Welcome to the March edition of Coaching Moments with
Ryan D’Aprile!

If you listened to last month’s Coaching Moments, you know that Ryan D’April of D’Aprile Properties spent a full hour on lead generation. We had such an overwhelming response from our listeners that this month he spent another full hour answering your questions! Don’t worry if you missed the last episode – you can jump right in with this one. Ryan has coached (and continues to coach) some of the top brokers in Chicago, and his methods are simple and effective. If you’re a broker looking to increase your production by even one deal a month, you NEED to listen to this episode.

Ryan D’Aprile can be reached at 312.492.7900 and execassistant@daprileproperties.com.

Ryan D'Aprile
daprile properties logo

Transcript

D.J. Paris 0:00
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Hello, and welcome to another episode of Keeping it real the only podcast made by Chicago real estate brokers for Chicago real estate brokers also for brokers all over the country because we are starting to get more traction and people from many different states have written into us. So I know it’s not just local, but we are interviewing and talking with local brokers here. We only talked to the top 1% If you’re a new listener, this is coaching moments with Ryan’s APR. And this is a really super fun series that we do. Ryan comes on every single month, and Ryan’s passion is coaching. By the way, if you’re not familiar with Ryan, let me give you a little bit of information. Here, Ryan, April’s a progressive thought leader, he’s focused on providing for his agents and staff in particular, Ryan’s passion is coaching. His strengths are motivational skills, his coaching style and dedication to training. And what I want to mention is Ryan has a visit right? You have 13 offices, is that right? Yes. Yeah, so write us 13 offices, several 100 brokers. And Ryan spends the vast majority of his time traveling from office to office coaching his brokers. So we’re so honored that he spends time every month doing that here for the 1000s of listeners we have so and by the way, Ryan is also on vacation. So this is primetime that he is taking away from his family to do this for you. So on behalf of all the listeners, Ryan, thank you and welcome.

Ryan D’Aprile 2:15
It’s my pleasure. Thanks so much. Yes, I’m down here in sunny Miami. It’s in it’s fantastic, by the way, because I think of where we are when I left I think was about 25 degrees, what’s the temperature there now?

D.J. Paris 2:25
It is 30. And we haven’t seen we haven’t seen the sun in about four days. So that’s it’s pretty much missing.

Ryan D’Aprile 2:33
You know what I’m, I’m overlooking the intercoastal right now looking at some boats and pool and palm trees. And it’s fantastic. But I gotta tell you something, TJ, there’s no place like home. And as great as Miami is, and I love Miami, I mandu. I love Chicago as well. And it’s all about your perspective and how you put it. So it’s great to be here, but it’s not. So we’re really fortunate to live in such an awesome city.

D.J. Paris 2:53
That’s true. My parents had a place on the intercoastal. We’ve actually just sold it. They had it for many, many years in Myrtle Beach. I think the intercoastal is the largest manmade body of water in the world. There’s something unusual about the intercoastal. So if you’re listening, you don’t know what it is google it is super interesting had to do with I think World War One when it was built out. Yeah, there’s a way to get moved and supplies up and down the coast. But anyway, so let’s get in today. So Ryan and I were talking offline and we we wanted to come up with with an improvement to our series. It’s already great because Ryan’s on it. But we thought he gave he was just true. We the feedback we’ve received has been so incredibly positive and strong that that we’re very, very excited that Ryan’s a part of this. And what we thought would be really interesting and helpful was, for example, on the last podcast Ryan did and I’ll post links to those if you first time listening, you should go back and listen to the other two that we’ve done thus far. But there was so much great content that I think there’s a lot of questions that we just didn’t get to as a result of people listening. So in the last episode, right, well, let’s go all the way back to the first episode. The first episode Ryan really talked about setting up your day, your morning routine, how do you set yourself up for success to dealing with mindset habits, behaviors, etc. And then last episode, Ryan talked all about really prospecting relationship building, how do you actually build your business? A lot about marketing campaigns, and really, really getting into into the weeds in a good way. Specifically granularly about you know, how do you what constitutes a lead? What are the different marketing campaigns? How do you know separate out your contact list, etc. So I thought what we would do is, every other episode, we would go back to the previous episode with questions. So this way, Ryan can get even deeper. And so what I will ask you to do here in just a moment, is right we’ll get into these questions, but I’ll ask the listeners to send us your questions. So if you listen to these and you want to hear from someone like Ryan, who is a very well respected thought leader, send us your questions. You can do that on Facebook, our website, million Ways to get us that stuff.

Ryan D’Aprile 5:01
Yeah, send them in. I mean, it’s there’s so many questions that pop up in people’s day to day activities, you guys send them in, we’ll be happy to cover them. There are, there’s no silly questions, if it’s just something that you might shoot it over and DJ will cover it.

D.J. Paris 5:17
Yeah, and pretty much everything I’ve learned in my life has just been through tremendous, a lot of asking a lot of questions.

Ryan D’Aprile 5:24
DJ, what we’ll do, we’ll keep the questions anonymous, so nobody has to feel like they’re going to be exposed if they’re nervous about sending out a question, mentioned that people’s name.

D.J. Paris 5:30
Very good point. Thank you for mentioning that. Okay, so let’s start to go through some of these questions. We talked a lot about one of the constant themes has been in the different episodes we’ve done is how consistency is the mother of skill, repetition, and building those, those have those daily habits, weekly habits, etc. Now, assuming brokers took your advice from the previous episode, which was all about how to find people that need your services, and they really started to implement those daily habits and reaching out staying in touch, etc. How quickly in your experience, and I know this, this can vary, of course, but how quickly does a broker start to see results as far as actually finding clients from that from doing those efforts? So,

Ryan D’Aprile 6:18
you know, it can vary on the it could depend on their time, their tenure in the business? Sure. So, um, I’ve had agents, majority of our company, one thing that I’m incredibly proud of, and it’s interesting, you know, innovation, you know, comes from need and, and one of the reasons our company has grown, is that we are not an organization of recruiting agents from other companies. Right. You know, there’s, quote unquote disruptors out there, sure. And essentially, they’re paying money for high agents and producing agents to come over Yes, I’ve had a lot of agents from my company get recruited out by leading real estate companies in our area, because of just higher commission splits and paying for them. And we haven’t had that luxury, we bootstrapped our organization, like I told you, DJ before the call. And what I’ve had to do over the past eight years, is bring people from that in the industry, and coach them all right, and of our 400 agents, 95% of them, were probably not licensed five years ago. And there’s some of the top producing real estate agents in Chicagoland and agents that get plucked away from our company, I’ve actually learned to be proud of is there some of the top top producing agents and those other companies, and they’re highlighted, and they’re rewarded. And, and I’m proud of that, because they were not in the business prior or they had been for a while. And they just didn’t kind of have a focus on what needed to be. And a lot of it was perspective of, this is what you’re going to do, and it’s going to take time. So that was a long winded, and I have a tendency to do that. But to tell you the experiences, I have people that have never been in the business, I people have been in the business for, you know, three, four or five years, something even a decade. And the timing is different based upon the tenure. So for somebody who’s brand new has never been in the business before, to follow the system, and you fall to a tee, it’s the first 12 months is going to be laying the foundation, sure, you’re not going to see a lot of results. And it’s like a plant germinating underground. So you’re not going to see anything but underground, there’s a ton of stuff happening. And it’s a second 12 months that you start to see the results. Okay. And then it’s the third full month, the third year, where what you did in your second year, which is, which will be a phenomenal amount of business, you’ll actually double it in your third year, but you got to follow the system. Now there are agents who have been in the business for three, four or five years, I’ve seen it happen in three to six months, surely off for them, because they have a foundation, they have a network, the network has a vague familiarity with them, and that they’re in the real estate business, they just have not been consistent in their activities and what they need to do. And I found it’s a three, four or five, six months of them doing it. They’ve gotten they’re getting tremendous results. They’re just they’re thrilled with so but that being said, Everybody’s struggling in those one to three months, or those first 12 months. And what they’re struggling with is the emotional factor that they have people compare themselves. I have agents that have not been in the business for, you know, eight months, and they’re comparing themselves to top producers. And I say, Listen, don’t do that. You got to give yourself time. Everybody has a starting block. And it’s just, it’s the biggest, the biggest. What’s the word I’m looking for? thing that will take somebody off shore their path is ego and self doubt. And and what they’re doing is they’re looking outside and they’re comparing, and they just can’t do that. Yeah, there’s

D.J. Paris 9:43
a great expression that says never compare your insides with someone else’s outsides.

Ryan D’Aprile 9:50
That’s right. That’s the truth. And a comparison is the thief of joy. And we all do it. I’m sure you do it. But you got to have that environment and I’m I think for individuals in the real estate business, coaching is incredibly important. And whether you get it at your company or you get it from an outside vendor, it’s important because you need that second or even third set of eyes to keep you focused on what you need to do. And then also keep you encouraged and to remind, you know, look at what you’re doing. I know how you feel, look at what you achieve. And it’s kind of that reason.

D.J. Paris 10:24
Yeah, I mean, even our own, the owner of our company, his name’s Nick, he started at Coldwell Banker in I think 2003. And he ended up he wasn’t the Rookie of the Year with Chicago Association, realtors, but he was of the like, top five or something. And so I asked him years ago, when I started working for Nick, I said, Hey, you had an amazing first year back in 2003, how much you started currency, how much production did you actually do? And he goes, Oh, that’s a funny question. He said, I did zero production. For the first six months, he goes, All I was doing was all of laying the groundwork, and just making the calls and doing all the things you’re supposed to do. He goes, then in month seven, I ended up closing seven sales transactions. But if you would have looked at that first six months, he goes, if I would have thought about having zero money I’ve generated I would have felt like a huge failure. And he ended up being one of the top producing rookies. So yes,

Ryan D’Aprile 11:16
right. Well, you know, that’s, that’s I’ll draw it because it’s funny. That’s actually the same year I got in the best Yeah, was 2003. And I tell everybody who is new to the business or whatnot, it takes us time we go over it. Okay, you’ve been in the business for five years, you get the results you want, here’s the timing is going to be okay. You’re brand new. Well, let me tell you about my experience when I was brand new, and I had I had a career, I was an executive search. I got my license in January 2003. It wasn’t until July of 2004, that I quit my career, and became a quote unquote, full time real estate agents. And anybody and everybody could do it. I mean, 2003, I had a daughter, I had a wife, I had a mortgage, I had, I was working probably 45 to 50 hours a week, do an executive search, I was going oh my gosh, at night to get my MBA, and I travel maybe once or twice every other week for my business, the executive search business that I was in, but at the same time, over 18 months, I was able to lay a foundation. And that set me up to walk away, and I never looked back. And DJ three years later in July 2007 was July or July 2004, three years, laters, July 2007, with the great recession. And you want something I didn’t skip a beat in 2000 789 10. They were I’ve told people this over and over again. Sometimes I’m tired of hearing myself speak because I’m repeating. But it’s just how people learn. It’s like, those were great years. For me, it was terrible what people were going through. And there was a lot of emotional stress, seeing friends and family and colleagues and clients that we were doing a ton of short sales for and helping them through the business. But for me as a real estate agent, our business was plentiful, it was all around. It was there, then it’s there today. But it’s about living in abundance versus scarcity, which is, you know, you have these conversations, we talk about this, we read books, we listen to podcasts. But man, this is not a one and done thing. It’s like you have to go to the gym, you gotta go to the mental gym, every single day to check yourself, especially if you’re going to be an entrepreneur, which real estate agents and loan officers. We are entrepreneurs. Yeah.

D.J. Paris 13:21
And don’t step on the scale every day and look at the number right like stop judging your daily performance judge the work you’ve done, don’t judge the results, the results, you know, this is a well trodden path. The path to success in this industry has been well documented. It’s same with with fitness, same same with really any part of life, you know, people have figured this out already. But if you just gotta keep doing it,

Ryan D’Aprile 13:46
it’s so true. It’s and it’s so great. I love when we as we coach people, we learn from the people we’re coaching. And I’m gonna reference one of our agents, his name’s Mark, play sec. And he was one of the agents that I saw. In the beginning parts of me coaching him was like 30 to 60 days, he taught me a very valuable lesson, I have what’s called the dashboard we have with this snapshot. And Mark said, Can we do me a favor? Can we not look at my goal, and we can’t look at my results? Can we just focus on it? That’s, that’s awesome. I said, Yes, Mark? Absolutely. We can. In fact, Mark, I’m gonna steal that from you and just use my future coaching, if you don’t mind. And that’s the beautiful thing about the business and being in what we do is you can learn from everybody and anybody regardless of title. Yeah, great.

D.J. Paris 14:25
What are your thoughts about finding an accountability partner, someone that is, you know, probably on the same path as you who wants to do a lot of daily activity. And, you know, we know famously if you’re Brian Buffini fan, he had Joanie ago, and they were accountability partners. What are your thoughts on that? My name is Joe. That’s funny.

Ryan D’Aprile 14:45
Yeah, it’s randomly Yeah, we’ve never met but he lives in my in my neighborhood. Um, it’s important. I mean, and they you don’t have to, they don’t have to have the same tenure. They don’t even need to be the same business if they understand the concept of what you’re trying to achieve. And it’s focus on self improvement, working on the activities that you need to be doing and staying accountable. I think everybody will benefit from an accountability partner. I think everybody needs an accountability partner in the business that we are, we are in. But it’s important. The countability partner is discipline. Because there are so many distractions in our business. And there’s all these new things, right? There’s this new digital, there’s this new lead generation app, there’s this new this and there’s news that you’re really, you really have to focus on somebody who understands the fundamentals. And you have to understand what the fundamentals are, and then commit to each other saying, let’s stay focused on what’s tried and true. Let everybody else all the disruptors and technology and let everybody else prove it out and see what happens 10 years from now, or five years from now, or even three years from now, if we have to shift gears, and let’s just measure the results we have, and what we’re gonna do over the next 12 to 24 months. Yeah,

D.J. Paris 15:58
if you if you’re not sure how to find an accountability partner, and obviously, the most obvious example is if you work in an office where there’s other brokers, you know, that should be one possible source. Or if you’re a member of association, which everyone who’s listening probably as a member of car, Main Street or short Barrington, you know, one of the association’s, they have all sorts of events and where brokers come and hang out, and, you know, the YPN is, is another organization where lots of brokers go to learn, you know, that would be a place to go and just start meeting brokers saying, hey, I need somebody that can I can do a daily check in about my activity. And hopefully, we have similar, you know, goals around habits, and you can find people there out there. Absolutely. Let’s go back to the let’s say, You’re a newer broker, or or maybe not newer, but somebody who is, you know, has it’s a slow period right now, we know that the sales markets a little bit slower currently, maybe the calls aren’t coming in as frequently. So aside from the daily activity that we talked about, on the last two episodes, what else? You know, what are your? How much of your day should be spent marketing if you have no clients currently to service?

Ryan D’Aprile 17:11
So it’s a great question. So marketing, marketing should not be that complicated or difficult or even time consuming. I am very what’s the word I’m looking for? Marketing should be a campaign and should be combination of direct mail, email, digital social, it also probably should not take more than an hour to two a month right to achieve. What you should be focusing on right is the relationship building activities.

D.J. Paris 17:45
So how much of someone’s day should be spent trying to get face to face in front of people to talk about possibly assisting them or letting them know what they do? Well, let’s talk about that.

Ryan D’Aprile 17:57
And let’s talk about face to face and doesn’t have to be face to face. That’s that’s one, right. And DJ doesn’t have to be talking about assisting them, right? That’s too true. So if we go back to the theory that 16% of our network has a need of buying and selling a home every year, right? And then everybody in our network knows, at least for people who are buying or selling every year, what the focus needs, to be honest, is how well these people know who you are. Do they like you? And do they trust you? Right? Because in our business, which is a high level, consulting business, you know, focusing on a lot of emotional intelligence, taking people through the transaction of a homesale. They want to work with somebody that they know, like, and trust and like, anybody, everybody, I mean, life is coming, you know, at us at at a wicked rapid speed. And so sometimes they work with a real estate agent that they’ve never met before, just because that person was right in front of them at the time. I think it’s takes people I believe, it takes anywhere from six to to 18 months for somebody to purchase a home, but they pick a real estate agent and one to three days. Right. And so how much time do you need to be focused on the relationship building? Is is the question. Yeah.

D.J. Paris 19:11
And here’s then oh, God, I’m sorry. No, go ahead. I was gonna say, here’s a really hyper specific example, if people are thinking, Okay, well, that’s great. I, and I have this contact list. And I don’t want to call and pitch what I do, because nobody really is interested in hearing me say that. I’m also you know, I’m a realtor, and I can help you, how can I provide more value to them? You know, here’s a really timely example. So, and I sent this to our own brokers, I don’t know how many of them did it. But if it was, if I was out there producing and I was not that busy. Even if I was busy, this is a great way to add value. You could in goes to Ryan’s question, does this have to be face to face? No. So here’s what you can do. You could call up everybody you know who’s a homeowner and say, Hey, I don’t know your mortgage situation. Obviously, it’s none of my business. But I don’t know if you’re aware, but mortgage rates have actually dropped. It may be a good time. I don’t know if it is for you or not, but to consider refinancing and if your mortgage person hasn’t contacted you, you may want to reach out just to see if it’s an opportunity to refi. If you don’t have a good mortgage lender, I can certainly pass over. But I just was thinking about you thought that might be of use. That is a huge amount of value you can bring to somebody right now and gives you a reason to pick up the phone.

Ryan D’Aprile 20:19
Yeah, so in here’s another technique that I like, I like to look at it as your network as a whole. And you need to see your network, you have to stop and write down your network, type it out. Visual, and so you could see it and then you have to count it out and figure it out. Now, you need to have certain information on your network and who they are. If they have a partner or significant other or a husband and wife, you probably should know who that person is and should have that written down. Right? You should know their home address. Yes, regardless if they own or rent, right. During the real estate business, that should be your number one priority is finding

D.J. Paris 20:52
out Yes. Know, their birthdays know if they have children. No, you know how old the children are all sorts of things.

Ryan D’Aprile 21:00
So start with that. And then you say, Okay, well, what’s the number? And let’s just say there’s 200 people on your network, right? Okay. Well, now let’s, let’s look at our, let’s look at this as a career. And I’m going to work Monday through Friday work, maybe nine to five, right? That’s what we do when we get a job. So we’re going to time block, and we’re going to set out an agenda I’m going to follow I’m saying, okay, there is approximately 63 working days in a quarter. Okay, so we’re not counting Saturday, we’re not counting 73 month quarter just about practicing 63 working right? You take your network divided by 63. And it comes out to approximately I’m going to round up running up. For for context today. Yeah,

D.J. Paris 21:39
it’s not not terribly difficult.

Ryan D’Aprile 21:42
It’s not, and it’s imperative that it’s done. You know, and if you skip a day, fine, it’s eight. But that’s your job, right? That’s what you need to do. And it’s, it’s one of those things where it’s so easy to get distracted in this business with the newest trends and technology. And well, this is a, I’m gonna go make a Facebook video, which is great, do it. But don’t forget what your job is right, and your sleeves can be rolled up. And you need to be getting into the relationship, building techniques of your network, in which we’ve said before, you should be at least in touch with them four times a year, at least. So and then the other thing is realize that, you know, there’s so many coaching platforms out there for everybody, and techniques and closing techniques and, and overcoming objectives and whatnot. And I look at my network, and I’m like, I’m not closing these people. I’m not selling them, you know, I’m not going to overcome them. They’re not out there to win something, right? I’m there to solve. And the first thing to do is earn their trust, yes. And the only way you’re going to earn their trust is over time, 12 months, right? And 24 months, and that gets better. Because what you’re doing is you’re reaching out and you’re creating a relationship, a bond, and you’re somebody that can relate to you happen to be in the real estate business. And you’re good at what you do. And you care about these people. You love them, right? They’re important. They’re your network. So when the need comes, they’re going to reach out to you. And guess what, you do not need any closing technique, right? You don’t have to come over any objectives, right? Because you’re not selling.

D.J. Paris 23:17
I have a I have a friend who’s who’s an entrepreneur, who is just now getting into the real estate business. And he’s a he’s a tech guy. And he said, you know, because I figured out and this is going to be no surprise to you. And this is more of after the sale. He said brokers, you know, largely do not do a great job, generally speaking, of staying in touch after the sale, right? Because it’s maybe you know, before that particular individual needs to use your services, again, might be, you know, God knows how many years. So oftentimes, people buy or sell a home, and then maybe they get sort of forgotten about by the realtor. So he created software that he’s working on developing that basically sends out push notifications to like the home these will be for homebuyers that say hey, now that you’ve just bought in particular first time homebuyers that you’ve just bought your first home, here’s when you need to worry about changing your filters on your furnace and about you know, things like that, that really, the realtor could could schedule into their day and say, okay, in four months, I’m going to call teenagers. Of course

Ryan D’Aprile 24:13
they need to it’s their job. Yeah, these people just made the biggest life purchase or biggest purchase of their life. And you are not to go radio sound right? You are you You and we have in our in our what we call our dashboard. In our closed tabs, you have a responsibility call. And I’m saying call them nine times at least nine times after the close transactions. How are you Everything okay? Do you need anything? And I’m not going to worry about what they’re thinking cuz most agents don’t come up with objectives. Well, what are they gonna think? You’re gonna think you care, right? Because you do right? And there is a lot that goes on. And you have to call them and let them know that you’re there and I tell you, this isn’t something I invent Did you know I’m gonna give credit to speech that wasn’t even there? One of my agents told me about it. You we know the name Mario. Sure.

D.J. Paris 25:06
Very and he’s gonna be a guest on the show coming up very soon.

Ryan D’Aprile 25:10
Fantastic. I’ve never met Mario Greco. And I’ve never seen Mario Greco speak. But one of my agents did. And they came back and they said, you know, Mario said something very interesting. He’s got a team. He’s got a team of buyer’s agents. And he doesn’t even work with the clients. But after the closing Myro forces himself to call the consumer six to nine times after in any think he made the either I drew the conclusion, my own brain if he had said this, an agent told me I don’t exactly remember what that client is. Now, Mario’s again, even though another agent on his team worked with him, he does such a good job of staying in contact with that past client, even though he wasn’t the agent. His team was when he was an agent. He focuses on what’s important, when let’s look at where he is, right? All right.

D.J. Paris 25:57
He’s a struggling real estate agent. Super struggling. It’s funny. So a couple of months ago, he had he had written us out of the blue, and he goes, Hey, I think he was trying to be funny. He was like, How come you jerk check. And he didn’t say it this way. But he was being cute. She’s not gonna be jerks. haven’t interviewed me yet. And we went, Oh, believe me, we’re dying to interview you. And he he was really funny about it. So he was actually just at the event you and I were talking about as one of the speakers. But yeah, so there’s a reason why people like that are so successful. And it’s not by accident.

Ryan D’Aprile 26:27
When it’s it is in its in its prioritizing. So when I coach our agents, I ask them, Is this a priority? You know, you have to ask yourself every morning, what’s the priority in your network is your net worth, right? And what most people are doing is 90% of the real estate agents that are selling 10% of the real estate, is they’re not prioritizing your day, and what’s important, and the 10% of the real estate agents that are selling 90% Of all the real estate, they’re prioritizing, and they’re focused on attracting sales, not chasing sales, and they’re doing it through relationship building techniques. Not closing techniques.

D.J. Paris 27:09
Yeah, I think if you if you go approach it from the perspective of what value can I bring to my contact list or to anyone I come in contact with? What value can I bring, you will be so incredibly valuable and sought out you’ll never have to do what’s that cheesy line that use that that is taught, which I hate, which is I’m never too busy for your referrals, you will never have to say that. You know, because you’re you’re so I’ll tell you, you know that like people like Ryan, I’m speaking now, just to the audience directly. Look, Carrie McCormick comes on the show once a month, she is the 19th highest producing realtor over the last 12 months out of 40,000 Realtors in Chicago, she is beyond too busy to do this. She’s a one woman shop, there’s no team there. She’s an incredible in AI and she comes on every month and goes how can I add value to your listeners? Now? Does that directly benefit Carrie? I don’t know. Maybe she gets clients from it. Maybe she doesn’t, I really don’t know. But she provides so much value that she is known in this industry as somebody who is obviously very knowledgeable. But you know, a Joel shop from guaranteed rate came up to me at a con a thing we were at. He goes I have to be on your show, I have so much to say about lending, I won’t even promote guarantee, I just want to talk because brokers need to know certain things they don’t know, people like Ryan come on every month for that, you know, take time out of his vacation, these people become so incredibly valuable. They don’t ever have to ask for business.

Ryan D’Aprile 28:32
It’s true. And it’s it’s sad. It’s understanding the more you give, the more you get, and you become addicted to it. Because what you do is you’re you’re actually caring about other individuals in our industry. There’s like, there’s no competition. We you know, we are there’s no competition, right? We’re our own competition, and go talk to any successful real estate agent, there might be an exception here and there. Sure, almost all of them are going to be kind and willing to give their time and help out because they understand that there’s abundance. There’s more than enough. I’ve heard people say to me, in the past, and they say, Well, I don’t want to compete with a managing broker who sells. And my thoughts of that is like, well, you can’t compete with your manager broker because your managing broker has their own network, just like you have your own network. And you just have to understand the fundamentals of the business. And now, I do understand the managing broker not selling so they could be there to support you. I’m 100% behind that me too. Right, right. So I get that and, and create a support and environment where people who are agents and an organization have the time to go and they get the resources they need. But my point is, is that there’s no competition because everybody has their own network. Are you going to bump into people who have crossovers and networks? Yeah, sure what you’re going to capture 75% 100% We’re going to capture 75% and 75 percent is enough. You know, and I think we have to realize, what is our why, why did we get in this business and a lot of people is like, I want to work for myself, I want to be able to come and go, I want to, you know, I want to have purpose and fulfillment. And so Okay, well, great, well, then if you look within yourself and your network, you’re going to find out that there is enough there to give you what you’re looking for, and your why and what you why you got into this business, if that makes

D.J. Paris 30:27
sense. Makes Perfect. Makes perfect sense. I want to switch gears and talk about a very specific question that that I have for you, because I’m curious. And I know you have your own proprietary software you’ve built for coaching for your team, or your brokers. What are there any techniques? Are there any apps or technology services that you recommend for brokers that are trying to stay on track? Whether it’s real estate related specifically, or just habit? Are you using anything? I have a few that I use that I can talk about in a moment, but curious to see what you’re using tech wise?

Ryan D’Aprile 31:03
Yeah, so we’re using something that I built out. And what I did is, we looked at a lot of other things that are out there. And there’s a lot out there. I mean, let’s talk about top producer, a lot of agents use t shirts, right? What I found is a lot of these things have too many bells and whistles, right? Or distractions. And so what we do, and so I guess I’m not gonna be able to answer your question, I think DJ would have handed off to you to, to give out some apps, and I’m not adding value there, I apologize. But what I have done is I mean, anybody can do this, you just have to write down your visual flow of the process and what you have to do, and eliminate as many distractions as you possibly can. And remember, marketing is incredibly important. But it is not, it shouldn’t be overwhelming. And it shouldn’t be taking up a majority of your month. I mean, should we not even take up a majority of date should be able to be accomplished in a one to two hour three hour time period. It’s all about relationship building. So I don’t have apps that are out there. But I mean, everybody ever, there’s so many things that are out there, but just focus on what’s important. And it’s how many times have you touched this person in your network? Right, like literally reached out and engage them? And what apps do you use?

D.J. Paris 32:15
Well, I again, and I’m not a producing broker. So I’m just I’m going to talk just broadly about habit building and habit forming. So there’s, there’s two things I recommend, although there’s a million other options, and certainly this isn’t necessarily the best option, but it’s worked well for me. So if you’re looking for just a to do list manager, the best one I have found is to do just, it’s free to try it. And then I think it’s like 50 bucks a year, it’s really inexpensive. But if you’re looking, so I use it for daily habits, so I have a certain number of habits that I’m trying to cultivate. They could be just a check my finances once a day, it could be reached out to five of our brokers to let them know, we appreciate that they’re hanging their license with us and that we’re thinking about them. That all sorts of you know, for me, my whole life is just small daily habits. I don’t look for the big wins, I don’t know that there are a lot of big wins, but there’s a lot of small wins. And so for me, it’s did I make my bed today, things like that, right? So anything that’s going to help me feel better and more productive. But I I’m a scatterbrain I’m a creative person, I deal very poorly with organization and also prioritization. So that leads me to my so Anyway, check out I think that’s safe for that’s it, what’s it called to do list so to do ISD,

Ryan D’Aprile 33:26
I think that’s a great point, I think all of us are scatterbrains, because we have so much going on, whether you’re creative or not, there’s just too much going on, I had to relate to habits, because that’s all this is. And that’s a lot of what this app that we use is based sure, but I lost 20 pounds 20 to 25 pounds, about five years ago, and I’ve been able to keep it off and the app that I use was called lose it. Yeah, and it’s a simple tracking app of the calories on my intake. And but what it did is it forced me to do an activity of tracking the calories, right, that became habitual for me. Now I have my days off for all I can literally eat a pizza by myself, and you know, and do all these things that but typically on a you know, five to six times a week, five or six days a week, I’m aware of the chloric intake, and at least a little bit of where it is and and so you know, I am an avid coffee drinker. You know, I used to be with cream, a little sweetener, now it’s black, right? But it’s because that app, lose it to your point when and creating different habits. And you know, I haven’t used that app now in four years or five years. But I tell anybody if this is something that you’re looking to do, go to that app, because it teaches you how to track which any good real estate software should be tracking your activities, which then are going to highlight the importance of what you’re doing. Yeah, that’s

D.J. Paris 34:47
awesome. I probably for a lot of our listeners who are into productivity, self improvement, they’ve at some point they’ve come across David Allen’s getting things done if you haven’t you Google it, there’s a whole Almost cult like status around how impressive and workable it is, and what getting things done is, is really a blueprint for how to organize your life and how to organize your day and prioritize. However, if you’ve gone through those in even just read the book, it’s incredibly complicated and daunting, and a tremendous amount of work. So I’ve always struggled over the years as somebody who naturally struggles organization, is how do I actually create a workable system that’s simple and effective. And I found and I’m gonna give a plug to this because it was the best $99 I ever spent. Whereas a guy named Thiago forte in any way you the name of his program, you can just Google it’s called Getting things done like a boss. And he essentially says, okay, here are the actual principles of what you need to do every single day to prioritize your day, and move through it. And then here’s how to check things off and organize it, and how to organize data and all of that, and it’s all video system. And it helped me so much in just creating a framework because I left my own devices, I wake up, I’m like, I don’t know what I’m doing today. But now I have some something to actually prioritize and schedule so that that’s just been helpful for me. Obviously, there’s lots of other systems.

Ryan D’Aprile 36:07
But teaching circling back also to your second, or your first question, how we open this up is like, how long does somebody have to wait? Right? What’s the time, right? And there’s a key word in there. It’s called Wait, you know, and yes, it’s a part of the recipe, and you can’t escape it. So just don’t self destruct. And self destructing is where it’s not working. I’m going to try something else. Look, this is how you do it. I’ve been doing it for 16 years, I’ve done this with 400 people, some of the top selling real estate agents in the Chicagoland area, who weren’t even licensed four years ago, had followed the system to a tee and I’m talking about individuals signed 10 1215. One is targeted at $35 million. This is not a team, an individual agent wasn’t licensed in 2014. But these people had to wait, we all have to wait. And what happens is we’re so ambitious, and we’re so quote unquote, driven, and I’m different, I demand more out of myself. That’s what people that’s fine. I understand and you’re going to get the results. It just depends. Are you going to crucify yourself along the way and everybody else around you? Or are you going to allow the weights and the germination process to do what it has to do? You can’t you don’t, I mean, I think Starbucks was started in 1978, or something like that, ask anybody wants to and they’ll say 9090, or something, because that’s when it started become mainstream, you start seeing it everywhere. And then he bought the company sold his copier business and bought Starbucks, I think in 1978, or 1980, or something, it’s like successes and overnight, we overestimate what we can achieve in a year. And we underestimate what we can achieve in a decade. And another thing that I have written up on boards, and I tell people is a year from now, you may wish you started today, right? A year from now, you may wish you started today, because you got to start somewhere. And you have to allow the germination process, which is essentially a time that you’re building trust with these individuals to happen. That’s why I had a job for 18 months, you know, I worked and I got I was getting my MBA, and I had a new daughter who’s 15 years old, it’s probably gonna be coming here pretty soon. But um, because she went out to breakfast with the girls this morning. But that’s those are the things that we’re asking about is like, there are, you know, and also to all the real estate agent list agents listening to this, there’s another ingredient, and it’s called you. So like I tell all our agents, we’re going to be there, we’re going to show up, we’re going to help you, we’re going to do the marketing for you. But there’s things that only you can do for yourself. And it takes you that’s the biggest thing that’s our biggest struggle is ourself. And it’s a big responsibility to say that you are responsible for your own destiny. However, it’s also the keys to freedom, because I can have a boss, that’s a total jerk, I’m not gonna be able to change, right boss, what I can do is I can change myself in my activities, and then I will start to get the results that I want.

D.J. Paris 39:16
And, and by the way, we are all not capable of doing everything ourselves. And there are parts of of all of our personalities where we’re like, I am not good at that. And, and when when you can recognize Hey, that’s not my strong suit, you can find a partner and you can find it you can you know, delegate it, you can find you know, now we live in such this this global service economy where you can find people overseas to help you with things for very inexpensive. So if you think well I don’t have enough income to pay for a full time assistant. I understand that there are virtual assistants that will do it for you know a few bucks every time they do a transaction or they help you with whatever you need. It’s there are so many opportunities to that you should feel focus on, you know what, what you’re passionate about what you’re and let’s and don’t fool yourself with trying to be perfect at things that you’re just not good at?

Ryan D’Aprile 40:08
Well, ideally, you know, the brokerage will even provide most of the shorts, like we have assistants, you know, a lot of agents that are companies that will only hire assistants, and that’s fine. But it’s like, well, when you hire assistant, you have to pay them every two weeks, right? But you also have to manage them, you have to interview them, you have to review them, there’s Are you a manager? Are you an entrepreneur, or what are you and so like, at our organization, we created a Assistant Program, where they’re not responsible for hiring and training them or even paying for them or managing them there. They know what they need to do, where they need to add value, and they assist the agent. Same in the marketing, we do a lot of the marketing. So we just say focus on being right, you do what you can do, you have control over. And I’m the perfect example of that. I mean, I have a, you know, I have, you know, a right and a left arm at my company, I have, you know, partners there that run a marketing department or operations department or a kind department, I am clueless on how to do that those kinds of things, what I do is I focus on me, which is I feel adding value to people motivating them coaching them and saying, Look, I was a real estate agent, this is what I did. This is what I did for over a decade, this is how I got to where I am. It’s simple. This is where I shine, I let all the other things I hand off to other people. It’s very important to find what your lane is, and stay in your lane

D.J. Paris 41:21
is and I think that’s a great place to end. I have one final question is, is there a book that you recommend that you’ve that is really I know, there’s a million books you’ve read that have impacted you anything more recent that you’ve stumbled across sets that you want to recommend to the readers?

Ryan D’Aprile 41:37
You know, it’s so it’s interesting, because you could ask me this and you know, in any given hour, my answer is going to be different. Right? You know, and so, I think just because I was just talking about how we self destruct, right, I’m gonna go into more of a mindset type of book, philosophical, kind of allowing the world to fall in the line view. This might be a little deeper people, but I’m a big follower of Deepak Chopra. You ever read anything by Deepak Chopra? Sure. Of course. He’s my guy. And I love it. Man. He wrote a book called Synchro destiny. Have you ever read it?

D.J. Paris 42:12
Yes, I don’t think so. But I know the book,

Ryan D’Aprile 42:15
EJ read it. It’s phenomenal. And I’m having so much fun with my niece, who is away at college. And we talked about, there’s no such thing as coincidences. These are the thoughts that you put out there, you become aware of them. And it’s just signals that these things are coming to you. Same with growing your real estate business or your mortgage lending business, follow these steps and then become aware, then walk away, let it go. You can’t force it, you have to wait. And you could do other things. Go for a walk, do what you need to do. Give your time for your energy to build up and watch the coincidence that start popping around. And all of a sudden you realize everything you need, flows into you. And I have moments to this day, where I am just I am off course. And I’m just my energy is not good. And you could feel it. If I walk in the room. What I’m doing is I’m forcing it. And I’m wanting it sooner. I’m comparing everything else. And so I go back to these books and one of them is Synchro destiny by Deepak Chopra. It’s phenomenal.

D.J. Paris 43:14
Great. Well, I think that’s a great place to pause for this episode. And so everyone who’s listening two quick things that would help us out tremendously. Number one, send us your questions for Ryan, let us know again, Ryan spends almost all of his time focused on coaching his brokers that is incredibly unique. I’m not even sure that there’s anyone else in Chicago that, that that does that. So that’s how useful this these episodes I know they’re useful, because people tell us but Ryan is here to answer your question. So send us those, you can find us on our website, keeping it real pod.com facebook facebook.com forward slash keeping it real pod? And or, you know, there’s a million ways to get questions to so please do that. The other thing is we do

Ryan D’Aprile 43:57
want your questions. Yeah. And our next session as well, I want to just tell him what to put out there DJ to hold me accountable. I’m going to focus now on our next session on skill set, yes, listing presentations list price versus sales price, how to articulate your value, as well. So I just want to give the listeners who, who hopefully took away some value today, when we meet up next month. That’s going to be the topic. And then DJ, like you said, the next session after that, we’ll we’ll do a q&a.

D.J. Paris 44:24
So think about what questions you have for Ryan around skill set building. In other words, how to be a better realtor. How do you actually, you know, create more value for your clients to be able to, you know, obviously, service them more effectively. So send us your questions about that. And that’s, in fact, that was one of the questions I had for you that I thought we should hold off on. So this is perfect timing. The other thing that our listeners can do is please tell a friend so there are 40,000 brokers here in Chicago obviously many more nationwide, but if this is valuable to you send it to your other brokers in Europe. First thing that you think could you benefit from hearing someone like Ryan, and all the other wonderful people that are on our show, it really helps us out and keeps us going. And, you know, with zero marketing budget, we now have 1000s of listeners, which is I would, I hoped what happened, and I’m glad it’s providing value, but please pass the word. Other than that, Ryan, thank you for taking time out of your vacation for this. And

Ryan D’Aprile 45:21
yeah, I love it. Don’t worry about I’m gonna accommodate her next.

D.J. Paris 45:25
Great. Well, everyone who’s listening on behalf of Ryan and myself. Thank you. And Ryan, we’ll see you next time. Have a have a great rest of your vacation.

Ryan D’Aprile 45:32
All right, thanks so much. Take care.

Welcome to the March episode of Investor Insights With Brie Schmidt!

Use coupon code REAL for a discount on Midwest Real Estate Summit on June 1-2 in Chicago. Click here for details!

Brie Schmidt is one of the most well-respected buy-and-hold investors in Chicago. Each month we’ll be discussing an investment topic brokers should master.

This month we’re talking about house hacking, the principle of buying a multi-unit, living in one unit, and having the other tenants pay the mortgage. Brie talks about loan limits for conventional (20%) and FHA (3.5%) for multi-unit investments. She also shares the Home Possible program (by Freddie Mac) with allows for a 3% down payment based on borrower’s income relative to median income.

Links discussed in episode…

HomePossible Program Details

Conventional and FHA Lending Limits

Use coupon code REAL for a discount on Midwest Real Estate Summit on June 1-2 in Chicago. Click here for details!


Transcript

D.J. Paris 0:00
Today’s keeping it real episode is brought to you by not standard a premium luxury custom menswear experience in Chicago with the highest quality fabric source from the top mills in the world and more than 7000 customizable details each not standard product is as unique as you are booking an appointment with trusted stylist Lauren Lipton at not standard.com That’s kn O T standard.com forward slash Lauren L A u r e n and mentioned in DJ Paris me to enjoy a complimentary shirt and 15% off your first purchase

Hello, and welcome to another episode of Keeping it real the only podcast made by Chicago real estate brokers for Chicago real estate brokers. And I really should stop saying that because we have people listening from all over the country, but we do focus predominantly in the Chicagoland market but we welcome listeners from all over today is the newest episode of our monthly series investor insights which we paused briefly last year and we just got too busy and so we are so excited to continue this speeds it’s the number one most requested feature on our show that we sadly just weren’t able to do for a while so we are so excited because we have a brand new host of the series and she if you are involved in the investor community, whether it’s nationwide or here in Chicago, you probably have heard of the name Bree Schmitt, she has all over bigger pockets. I call her the queen of bigger pockets. So if you’re a bigger pockets person, you probably have come across her or you certainly will. After listening to her today. Let me tell you a little bit about Bri Bri acquired her first investment property in 2011. She left the corporate world in 2014 when she became a full time real estate investor. Bree is the managing broker for own firm which is Second City Real Estate, a full service brokerage, working with new investors and also seasoned investors looking to expand their knowledge of the industry and their portfolio. abri utilizes her extensive knowledge of building and managing a portfolio to teach clients and brokers all about aspects of buy and hold investing. Bree teaches you how to analyze potential properties how to calculate your ROI, best practices when marketing and leasing your rental property and how to be a landlord and build a portfolio. A breeze job does not end when you close on a property she is always available to help throughout the process as you scale your business. But he is also the co founder at Midwest real estate networking summit, a nonprofit educational summit for real estate investors and brokers. This three day annual event provides new to experienced investors with the tools and connections necessary to build a real estate business and you should absolutely attend this event. I know people that have attended. Everybody raves about it again, Bri is really really well known in the investor community. You can learn more about this at Midwest, R e summit.com. Again, Midwest RV summit.com. And exclusively for keeping it real podcast listeners. If you are interested in attending and you should attend, we have a special promo code to get you a certain percentage off of the admission price which put in the code real r e a l so with all that being said, welcome to the very first investor insights with Bree Schmidt. So Bri thanks for being on the show.

Brie Schmidt 3:41
Yes, thank you for having me. I’m really excited about it. We are

D.J. Paris 3:45
to okay, I’m just gonna Oh, first of all, we let’s talk just a little bit about you. And by the way, we have an episode that Bree and I did probably a year ago and I will link to it in the in the show notes. And it was one of our most popular episodes we’ve done today. But how many properties do or how many units do you do you own and manage at this point?

Brie Schmidt 4:04
I’ve actually got to redo my numbers because I just sold my first property ever. So I just did my first sale. I sold two properties last week and then I am selling another one this week. Actually, I have to adjust my numbers but it just under 100 units.

D.J. Paris 4:19
Unbelievable and you’re predominantly in the Chicagoland area but also Wisconsin, right.

Brie Schmidt 4:25
Correct. Also, Chicagoland area and then Milwaukee.

D.J. Paris 4:29
Wow. And you’re very active in the BiggerPockets forum. You put it How long is the Midwest real estate summit been happening? That’s couple years at least right

Brie Schmidt 4:39
now. This will be the the event this is the second year going to be in Chicago. The event goes started about five years ago in San Francisco and it spawned off to San Francisco, Philly Chicago coming soon sounds like Texas, or Austin area. So it’s it’s become even though there’s different markets that do it the event is quite similarly. structured across the country, which is, you know, it’s different than a lot of the stuff you hear on the radio, you know, like, hey, come to this, you know, today event and I’ve been to that myself to where, you know, I’m sitting there and after five or six hours of listening to, you know, someone on stage pitch there get rich quick scheme, I end up walking out, you know, and so the the event is really tailored on finding real people, real investors who want to share their story. And that’s I think one of the unique things about real estate investors as a whole, is it’s not just a job for us, it’s a lifestyle decision, right. And it becomes part of our core being as being an investor. And everyone is all about generally sharing information, like, Hey, I messed up, I lost 1000s of dollars, you know, let me tell you how I did it so that you don’t make those same mistakes. And that’s kind of one of the core principles of biggerpockets.com. Because why it’s grown to the level that it’s at. It’s really that paying it forward mentality. And so we’ve tried to bring that same sort of mentality to these events across

D.J. Paris 6:03
the Midwest real estate Summit is a very high, highly, a very top of the line type of event. And you’re right, I always forget that there are the more of the get rich quick types of seminars to this is absolutely the opposite of that. This is the very best speakers in this space, come to this event, and offer their their time that sponsors are big deal sponsors. This is this is a it’s a really high class event.

Brie Schmidt 6:32
Our keynote speaker last year talked about how he went from 4000 units to $26 million in debt. You know, definitely, definitely not a get rich, quick story, let me tell you, but that’s the kind of people that we target, right. It’s people that have been through the cycles, gotten people who’ve made mistakes and are willing to be honest with those mistakes to help other people learn to not do those.

D.J. Paris 6:53
Yeah, that’s, that’s awesome. Okay, so what would you like to tell our listeners? Where are we talking about today?

Brie Schmidt 7:00
Today, we’re talking about House hacking. So if you’ve not heard that term, it is becoming a very, very popular term, especially in the millennial community. And sometimes I wish we were doing videos, I could show that I’m air quoting stuff. So I’m air quoting millennials, but generally speaking, it is a strategy of house buying, that has targeted people in their mid to late 20s, up until their early 30s. And so it’s definitely something that has been talked about very much on bigger pockets. And it’s definitely a strategy that works really, really well in the Chicago market. So that’s what I wanted to kind of go through today is like, what is it? Why are people doing it? And how can you help clients better understand how to execute their plans have been housed actually perfect,

D.J. Paris 7:45
let’s, let’s do it. Okay,

Brie Schmidt 7:48
so house hacking is the term of living in one unit renting out the others, right? It’s actually how I started with real estate investing almost eight years ago. I didn’t know it was house hacking back then. But one of the things that makes Chicago unique as a city is because we have so many of these two to four unit apartment buildings. Depending on the neighborhood, there was a study from DePaul that shows up to 60% of the housing stock in these neighborhoods are two to four unit apartment buildings, that’s quite unique to Chicago, there’s very few cities in a world and the country that have that sort of density. So it lends very easily towards this house hacking strategy. Because what they can do is use low money down programs, live in one unit, rent out the others, and live either for free or have their their housing payments dramatically reduced, that then allows them to save up for another one. So that’s what house hacking is why house hacking is becoming so popular is you’re again, able to use these low money down strategies. So I mean, when I was 27 years old, I didn’t have $100,000 to put down on a house. But I definitely could do a three and a half percent down FHA program, you know, and that’s where this finds these programs are available, doesn’t have to just be a condo or a single family house. These programs are available on small two to four unit properties. So there’s two, there’s two main programs available to people. One is FHA, which I’m sure everyone’s familiar with. The other one is the home passable, which is a 5% down program. So FHA is available anywhere in the city, and has loan limits. So you’re probably familiar with the one dwelling unit loan limit, what you may or may not know is that there’s actually loan limits for how many units there are. So there’s a one unit two to four, I’m sorry, a two unit three unit and a four unit loan limit for these programs. They are on the amount of legal units though, so keep that in mind. If you’re looking at a two flat with a garden unit than that does not count as a three accounts as of two. So it’s very important when you’re looking for clients to double check these loan limits, right if they’re looking at, you know, two flats That that is, let’s say, $600,000, you need to be aware that the max loan limit for FHA is 471. Right? And they’re not gonna, they’re gonna be too high above that three and a half percent down payment amount right to be able to purchase that property. So if there’s a third unit, it has to be legal. That, again, presents a challenge in Chicago, when we don’t know how many legal units there are until we get the zoning cert. And we don’t order the zoning cert, right until after we’re, we’ve when we’re ordering title. So when you’re making the offer, you’re relying on general information from the public, right, either what the assessor says what the Department of Building size, you can do a fly, from information requests on the water records, what the seller size, if they have their old records, right, we’re making a good gas, we’re looking at how the property is metered as well, all of these factors kind of come into play to say, Okay, we think this is illegal three, and at $600,000, then they could buy that as illegal three, we’re hoping it doesn’t come back as a two. And then we’re way too high above the loan limit. So with FHA, though, it becomes quite challenging in a lot of the North Side neighborhoods, especially, you know, anything, anything east of Western is pretty much knocked out of this program. Because the loan limits are too low, the property value of the properties are too high, the program just does not work. It still works though, in areas like Avondale, I would say Irving Park, Portage Park, you can still find properties within these loan limit areas. If you don’t know what the loan limits are, for a two flat, it’s 471 100. For three flat, it’s 569 450. And for a four flat, it’s 707 700. So that you can find a four flat and Jefferson Park for $700,000. That’s going to be a reasonable acquisition for you. The other program that it’s available is the 5% down program, why this program is very attractive to people is the PMI is lower, the PMI does drop off after you hit 78%. And there’s no upfront mortgage insurance premium, which as you know, kind of $12,000 for the buyer. So comparing the two options financially, it makes sense to do the 5% down program for sure. Again, overall, the over the life of the loan, it’s gonna save you 10s of 1000s of dollars. The challenge, though with this program is it’s only available in certain census tracts. So I can give you we can go to the show notes as well if you want in the map, but it’s called the Home possible loan. And so there is a online database where you can type in any address, and it will tell you what if there’s an income limit in that neighborhood or not. If there’s not an income limit in that neighborhood, then you can go for with the program. If there is an income limit in the neighborhood, the challenge is the income limit is generally at $4,000 a year. So let’s say your client makes you know, $80,000 a year, great, this program is available to them, especially for like condos, single family homes, but when you have to add in the rental property, right, because this property generates income, it almost always knocks you out of the program. So I’ve looked at it, I think you need to make like $25,000 a year for the average property to keep under that loan limit. And then if you’re making $25,000 a year, you’re probably not getting approved for 600. Right? So then, so you’ve got to be very careful that this is definitely in the last, I don’t know, four or five years, almost 99% of my clients have come to me that I’ve wanted to house hack will want to choose this program over FHA, again, mainly comes down to the costs. This program also has higher loan limits. So if you don’t want to, I’ll link these in the show notes as well. But for too flat, the loan limit is 620 200 versus FHA at 471 100. That’s a pretty big difference. It’s $150,000 difference in price. So that opens up a lot more neighborhoods to you. Again, the challenge though, is it’s it’s only available in certain census tracts. So areas that kind of east of Western are probably not going to be available based on the income limits of those neighborhoods, that program just just doesn’t become available. But for too flat, the loan limit is four or excuse me, 749 650 and four for flat, it’s 931 600. So it opens up a lot more opportunities because the limits are higher.

This program can also be used more than once. So if you you know you buy your house hack opportunity, you live there for a year you maintain your occupancy requirement, you can then go through the program again. So that makes it again very attractive to these house hack buyers where they’re able to put a little bit of money into it. Now they’re living for free for the next year. They’re saving what they were putting into rent, and then they’re saving what they’d already been saving before. After a year, generally they have enough money to do the program all over again and buy another property. So it bodes very well, for millennials who are a lot more mobile and willing to move. I’ve had clients that have done this three times now, where they’ve just moved every year from property to property. Now, once they get that, usually after the second or the third, they get to be a little bit older and different in their life stages. And then it’s like, okay, we’re not doing this anymore. Let’s find a property that either has a duplex down for them to live in and grow in, or let’s just move into a single family house and get an O’Neill stop living next to tenants. But it definitely helped add the first couple of years to, to use these programs to house hack.

D.J. Paris 15:44
So yeah, I see a huge opportunity since the vast majority of our listeners are brokers, to instance, a lot of the people we’ve interviewed on the show who are top 1%, producers started out doing educational seminars to their buyers and sellers. In particular, first time homebuyers the the move from renting to buying is obviously a very common type of webinar or seminar that brokers will do to to get, you know, client interest, and to be that educational source. And now I think there’s this huge opportunity to do a house hacking seminar, right, and you can invite your clients and I would assume there’s a lot less competition in the house hacking seminar world, among other brokers, right. Most brokers just aren’t familiar with it at all. And certainly the clients, you know, will be more interested, especially the ones that renting and maybe even not just renting, maybe the buyer buying clients. So I don’t know if you’ve seen brokers doing that having success, you know, hosting types of these types of seminars.

Brie Schmidt 16:45
Yeah, I mean, I host one quarterly. I also know another agent that focuses on two to four units as well, he hosts seminar events, as well, it’s the the buzzword of house Hacking has become extremely popular in the last couple of years. So it has definitely helps for people to understand, you know what it’s like that a lot of people that come to me have the same questions, right? It becomes very, my conversations become very, very repetitive. Things like, you know, well, the horror, the the thought of having tenants knocking on your door at two o’clock in the morning, right?

D.J. Paris 17:20
Where do you live downstairs?

Brie Schmidt 17:23
Yeah, you know, that’s, that’s like the number one, the number one concern people have with House hacking, right? is, you know, well, how am I going to there’s there’s so much to learn, not only about because now you’re taking it from beyond being just an agent, right? An agent finds you a home. Right? Right. But when you’re dealing with House hackers, you become the person that has to teach them how to how to analyze investment properties, right? If you don’t know what the words capex vacancy repair, you know how to how to run those metrics, your best bet is honestly to refer it out to an agent that does for sure, your air, you’re entering into an area of like ethical irresponsibility. But you become much more of an educator off the bat, because you’ve got to explain to them, you know, hey, I think that this is what your capex should be. And then you need to explain why, right, or this is what other investors have seen in the marketplace, you know, and then be able to explain why. One of the things that I find very beneficial, and I tell everyone with my clients is that I’ve been doing this for so long. I have so many clients that only do that, like this house hacking thing. If they’re looking at a neighborhood that they’re not familiar with, like, Hey, I’ve never been to Avondale, let’s say, right? Chances are I have a client who has bought a property within three blocks of where they’re looking. And most of my clients will take these phone calls and say, Hey, remember, you know, when you were thinking about moving to Avondale, and you were unsure of the neighborhood, I’ve got someone who’s looking to make an offer next week, would you mind a 10 minute phone call with them, tell them what your experience has been like. And that also helps like ease a lot of their concerns. But not only after they purchase, once they close your job is not really over with people are going to have questions. I get questions all the time. You know, what, what should I do with my pet policy? Right? Or, you know, my tenant is it’s the sixth of the month and my tenant hasn’t paid rent, how do I issue a five day right? Right? So what’s the what’s the Chicago landlord tenant Oregon say about these things? You know, that’s a really big one you have to know the Chicago landlord tenant ordinance and be able to assist clients above and beyond just finding them a home that looks pretty. It’s much more evolved past that. The benefit, though, also is that most of my clients are repeat. Yeah, of course. You know, they’re does it no investor comes to me and says, I want to buy one property, but I’m done. Right? You know, most of them are like, Hey, I have X amount of dollars. How can you help me buy as many properties as humanly possible and like, what is that going to look like? How long do I need to take? You know, and that’s that’s kind of our plan is we immediately consult with a lender. Um, Before we even look at our first property and go through what the long term plan is, how are we going to use? How are we going to leverage loans now, that can benefit us down the road for acquiring more properties? Because that’s really the end game.

D.J. Paris 20:13
Yeah, and what percentage of brokers and there’s I mean, there’s about 40,000 in the Chicagoland area, including the suburbs, but what percentage would you estimate as, as a managing broker yourself, really understand investments to the level that they can responsibly? You know, advise their clients?

Brie Schmidt 20:31
Honestly, from my experience, maybe five or 10%?

D.J. Paris 20:35
Yeah, so this is a huge opportunity for our listeners, who probably may have been listening, you know, the first 15 minutes and going, Gosh, I really don’t follow a lot of this, like, no, that’s normal nine out of 10 of you wouldn’t have followed it to the level that that Bree does, or myself even. I mean, I’m in that same 90%. So, you know, it’s like, here’s this amazing opportunity to become, you know, more skilled in your profession, and to be able to offer a whole nother line of service to your clients. So it’s like, okay, well, how do you start learning that information? Well, you do things like you join bigger pockets, you start reading you, you listen to podcasts, and you know, and more, most importantly, you go to things like the Midwest real estate Summit, right? This is the place where people learn how to actually do this. And,

Brie Schmidt 21:26
and then the association Chicago Association of Realtors also offers classes, I believe, on how to analyze property, right? There’s there’s dealing with investor clients, there’s like, one level, and there’s a two level as well. You know, what are these terms that they’re talking about? And how do you calculate these? Right Is it a lot of it also comes from just general knowledge. So my team, there’s four agents that comprise my team, between the four of us, we own over 200 units, and all of my agents, myself included, all work in areas that we personally invest in, that’s part of our pitch to picture is, hey, you know, where we’re showing you properties that we own in that same neighborhood. So a lot of times, we’re using our own numbers, like, I always tell clients, you know, hey, I will run your vacancy numbers at 3%, let’s say on the north side of Chicago, you know, but I can actually show you my actual numbers over the last eight years, that my vacancy rate actually is a quarter of a percentage, but I want to be conservative, and show you that, you know, we’re gonna lose your 1010 years of production numbers on what we would call a poor forma. So all that very important, but it all it all takes time, there’s definitely resources out there, to learn these things. And to deal with investor clients, they are there different. I mean, I like dealing with investor clients, because I can be, I don’t sugarcoat things. You know, I can be very, very blunt, and very honest about my opinion of the properties. And I don’t have to, you know, always smile, and talk about how pretty the whole spiel there, you know, that’s just not me as a person or not my personality. So I definitely don’t have to do those things, I get to go down to the facts and the numbers and what makes sense logically,

D.J. Paris 23:12
yeah, and also the investors tend to to be less emotional, because it’s, it’s a different type of purchase.

Brie Schmidt 23:19
Correct. It is a different type of purchase. So even before we go see a property, we run a basic initial analysis on the property to determine what we think that productive cash flow is going to be. And then that determines whether it’s worth going to actually do a showing or not.

D.J. Paris 23:35
Yeah, and this is, so if your head is spinning, that’s actually a good thing. Because you know, this is something where you can over time, and it’s going to take time to really develop the skill set to be able to have these conversations in the interim, you know, breeze absolutely right. You should probably refer those clients until you’re able to proficiently talk about it. And there are brokers like Bree, you know, who do brokers call all the time and say, I don’t know how to have this conversation. And you know, she’s able to either assist them or someone on your team or she’s able to teach you how to do that. So over time, you then can, but I think brokers are just missing out on such a huge opportunity. I mean, house hacking is all over the news right now. And brokers are probably just, you know, it’s not their day to day life. Most brokers and this is something that they can open up, and they don’t over time, they can get to a place where they don’t have to refer.

Brie Schmidt 24:31
Correct as with Chicago being the Think about the neighborhoods of Chicago, not the downtown Napa River North, not that stuff up but the actual neighborhoods of Chicago next time you’re driving down the street, pay attention to how many of these properties are two to four units versus how many these properties are single families, that a lot of these neighborhoods, it’s over half. So it’s definitely an area that you know, there’s there’s a definite market for it, right. And as the city continues to evolve. We’re evolving into new neighborhoods, you know, new net new areas are becoming hip and trendy for millennials. And that’s where they’re wanting to live.

D.J. Paris 25:11
Yeah, no, I mean, you’re you’re so right. So for everyone listening, this is what this series is for right to expose our brokers, not just to traditional realtors who help people buy and sell primary residence, and you know, they’re usually not multifamily. You know, this is an opportunity for our listeners to get exposed to, you know, investments and investors and how to talk about it. So in future episodes, we’re going to do deeper dives into all sorts of aspects of investments and working with investors, how to run numbers, marketing, and really just how to add this as as you know, our whole purpose of this podcast is to expose you to people who are the very best in the industry here in Chicago and the suburbs, how they’re doing it so that you can replicate or duplicate their success. They’re generous people like Bree to devote their time to helping so this is, you know, a new a new area that we’re exploring as well. So we need your help. So as you’ve listened to this episode, we thank you, and let us know what additional topics investment wise, you know, Bree is about as big an expert as as we’ve ever had in any area of real estate. So we’re very lucky to have her shoot us your questions, let us know what you’d like us to cover. You know, we do this strictly for you. So you can find us on Facebook, keeping it real pod. Our website is also keeping it real pod.com Of course on iTunes, Google Play Anywhere podcasts or server, you can email us right from our website and let us know. Hey, I have a question. And you know, we’re so lucky. And Bri we’re so grateful to have you. And by the way, again, everybody who’s listening, give Midwest real estate summit a chance check it out. Just go to the website, and you’ll see the quality of the caliber of speakers they have including, obviously, Bri you know, the sponsorships are all high level of the website, again is Midwest, ar e summit.com. And the discount for our listeners is the word real. So do that. And we will see Bri on the next episode. Again. Thank you so much for our very first Bri Schmidt investor insights.

Brie Schmidt 27:26
Thank you for having me. I look forward to meeting you guys are talking to you guys next month.

D.J. Paris 27:30
All right. That will do it for this month. We will see Bri again in a month from now send us your suggestions. And thanks for listening. Remember to tell a friend, if everyone goes out there and just tells another broker about this program. We can help even more people. So thanks again and thanks Bree.

Brother and sister top 1% producers Sophia Klopas and Jason Stratton of the Klopas Stratton Team at Berkshire Hathaway continue to grow their business year over year. In this episode they talk about how their skill sets compliment each other such that clients truly get two-for-one for the best possible consumer experience. They also talk about how knowing their hourly rate and becoming hyper-local doubled their production. Last, they discuss why they never perceive discount firms as competition, and why it’s okay to walk away from clients that aren’t a good fit.

This episode is brought you to by Knot Standard custom men’s clothing consultant Lauren Lipton. Mention D.J. Paris to get a custom shirt free with your first order!


Transcript

D.J. Paris 0:00
This episode of Keeping it real is brought to you by not standard a premium luxury custom menswear experience in Chicago with the highest quality fabric source from the top mills in the world and more than 7000 customizable details each not standard product is as unique as you are booking appointment with trusted stylist Lauren Lipton at not standard.com. That’s kn O T standard.com forward slash Lauren and mentioned me DJ Paris to enjoy a complimentary shirt with your first purchase.

Hello, and welcome to another episode of Keeping it real, the only podcast made by Chicago real estate brokers for Chicago real estate brokers also brokers who listen from all over the country. So I should probably update that. But we interview the top 1% of Realtors in Chicago, there’s 40,000, we only talk to the top 400 And ask them how they built their business and what advice they have for other brokers who may be listening. And they share their strategies, their secrets, and what has made them successful. So we gosh, we’re coming up on 100 episodes, and we keep getting more listeners. So we’re super grateful because we have as we spend no money on marketing, but I would like everyone who is listening, if they want to help us if we’re helping you. Here’s a couple of ways you can help us number one telephone if you know any other brokers in the industry that would love to hear what top producers are doing so that they could replicate that success. Tell them right anyone in your office, you know, give them a link to our show. The more listeners, the more people we can help second, go to our Facebook page. So it’s facebook.com forward slash keeping it real pod why because we post links to all of our episodes, exclusive content, and just a great way to stay in touch to find out what we’ve got going on. And then third, if you are an I an iOS and Apple user, subscribe to us on iTunes, do a search for keeping it real podcast. If you’re an Android person, you can go to Google Play and do the same or just use whatever podcast app podcast app you have. And search for keeping it real podcast, you’ll find us subscribe so you never miss an episode. And then one last thing, this is kind of cool. You know how you have an Alexa at home? Probably everybody does. And it just sits there and you don’t use it. I use it to turn my lights on and off. And that’s literally all I use it for. Well, you can actually now use it to play our podcast. So there’s one step involved, which means go into your Alexa app on your phone or your mobile device and go to the skills and do a search for keeping it real podcast you’ll see we have a skill you have to activate that skill takes two seconds. And then you can simply ask and you know how to activate. I won’t do this in case you’re listening at home. But you would ask play keeping it real podcast right and it will just play the most current episode. So it’s pretty cool. I don’t know if anyone’s using it that way. But you can and maybe I’ll even start using it. So up in a few moments. We have another great interview this time with Sophia colobus and Jason Stratton of the Clovis Stretton team at Berkshire Hathaway they did an amazing job. So without further ado, let’s get to Jason and Sophia.

Today on the show, we have Sophia Clovis and Jason Stratton of Berkshire Hathaway and this is the corpus Stratton team. So let’s talk about Sophia Sophia has a master’s degree in interior design, which assists her buyers and stepping back and noticing the appeal of different properties. Her approach gives buyers a unique vision of their property and a great understanding of what will help in a resale later on. On the selling side, she’s able to look at a listing and tell the owner what is needed for a quick and profitable sale. Sophie and her husband moved to Bucktown over 19 years ago, on a hunch the neighborhood would come around hopefully, rather happily they were right and still call Bucktown home today. Now Jason, Jason comes from a finance background has been heavily involved with the real estate market since 1998. Since stepping into the Board of Trade 19 years ago, Jason has kept an eye on the housing market and himself is was required acquiring real estate his first year in the financial market, Jason prides himself on examining a client from heart to mind. Understanding the passion one has for piece of property and assessing properties felt fair value. He understands that not only will his client consider their place their home, but for most people their largest single financial investment. Jason lives in Bucktown as well with his wife Nikki their three sons and their dog Jerry and we should also mention that this they are brother are in sister Sophia and Jason. But you can check out their website as well at corpus stratton.com. But anyway, welcome both of you to the show.

Sophia Klopas 5:08
Thank you. Thank you.

D.J. Paris 5:10
Oh, yeah, we are so excited. This is the first not only the first brother sister team, but we’ve only ever on the show had a handful of, of teams where both team leaders were on the podcast. So we really appreciate it, it gets a little tricky. If it’s both they’re both male or female. This case, it’s pretty easy to figure out who’s who. But Sophia, let’s start with you. I’d like to hear about how and our listeners would love to hear about how you got into real estate.

Sophia Klopas 5:37
Well, as you said, in my bio, I started out with a degree in design. And I was working at a design firm and ended up doing a model for developer back in Oh, two in the South Loop. And asked me if I wanted to stay on over the weekend to host an open house. I and I was working as a developer’s rep, so I was unlicensed at the time. Wow. That’s legal if you’re, of course. Yeah. And I think I still two or three condos on the opening weekend. Sold.

D.J. Paris 6:15
This is her, I could do this.

Sophia Klopas 6:17
My my drafting pencil and went to get my license. And that that is my story.

D.J. Paris 6:24
Wow. That’s, that’s, that’s amazing. It’s an incredible first weekend in the business. Right?

Sophia Klopas 6:30
Oh, two in the South Loop. So you know, we still had the mayor down there. It was a hot and happening place, as it still is. But it was just starting at that point.

D.J. Paris 6:38
Well, I even remember back then people would be buying pre construction and then even reselling pre construction. I mean, it was incredible time back then. And that in the South Loop in particular.

Sophia Klopas 6:49
It was it was so yeah, that that was how I got involved. And I know it, you know, somewhat is related and that it had to do with homes and aesthetic values. And I mean, even till today I use what I’ve learned in selling.

D.J. Paris 7:06
That’s great. And Jason, but I think in your backgrounds, it is different. So could you explain about how you got into real estate?

Jason Stratton 7:14
Yeah, I mean, I was I was actually really interested in real estate more as a hedge against inflation. Sure. The stock market. And I started looking at acquiring properties. And you know, kind of like looking at stuff that was happening I loved about town. At the time, I was Sofia and I had purchased a house together. So we were living in the same house, I was in the lower level. So it was upstairs, I was training, and then started buying. And then, you know, just to not get too long into Visio. So much other stuff to hit into. At that point, Sofia was pretty established. And she had reached out to me because one of her partners was leaving for California. And she knew I love real estate. And I love the tangibility of the asset. Like I love the fact that it was a house right or, versus what I was doing, which was kind of just not speculative. But it was basically account to account. You never really saw anything because you were in and out of trades throughout the day. And the opportunity arose. This is like hey, I need help. I’m you know, I’m getting very busy. Is this something that you would like to do? And I started doing it just helping her and open houses and you’re in there. And it just completely took off. And one of the first projects that I helped Sofia on was a big 50 Right. 50 unit building, and Lincoln Park on diversity. Wow. And literally, all of my business started from that building. I mean, I have people that are like that fourth, fifth sixth generation of buying or selling or referrals. And it all started from a 50 unit building from like, that was my fence a bit gave it to me, but that was my was my break came from that that building. And as that book of business got so big, you know, I slowly just walked away from the floor because I just loved real estate

Sophia Klopas 9:10
we needed we needed to be together full time or else. Much work. Yeah, or one person.

D.J. Paris 9:17
That’s incredible. We should talk about your team. This is probably a good time to mention this and talk about how you guys have How long is the team? I guess it’s been in effect for gosh, how many years now?

Sophia Klopas 9:31
Well, I was licensed in oh two Jason was licensed in oh four. We moved to kainic in Oh, six, seven. I can’t remember the exact time and it was just the two of us. And our managing broker insisted that it was way too much for two people to do and that it was time to loosen the purse strings and get an assistant. Thankfully we listened to her to Nancy and we did ahead. And as we got busier, they were extremely supportive and helping us find the right people. And actually, Chris was first Johnson, and he’s still with us today. And we have just slowly added, as needed. And you know, right now we’re at, there’s Jason and I, and then for other people,

D.J. Paris 10:25
that’s incredible. That’s awesome. And we were talking offline, and you guys have very specific beliefs around the team, best team structure that works for you. And your teams operates a bit differently than other teams. So can you talk a bit about that?

Sophia Klopas 10:39
I think it works for us, but it also works for the team members. Sure. I mean, I have an experience where you know, someone who’s not on our team and not in our company is calling and asking me for help on contracts, because they’re not getting the support from the team they’re in. So I think we Jason specifically works really a lot with the team members on helping them become higher in volume and closer to what we do it making them Park I mean, yeah,

Jason Stratton 11:17
we’re, I think the way we do it. And

obviously, we look for it to be Yeah,

I think every I mean, hopefully everyone that does what they do think it’s the best. So I’m going to tell you what, I believe it’s the best. I think it’s the best for the client. And I think it’s the best for the agent I have. And this is a probably a podcast in itself. I have, I have serious issues with the way that teams are built now, right? Where people are task specific within that team. I think that’s how I want to set your chords. For example, I did a sale in Linkin Park. And I met with the agent that had the the buyer, the agents that met with the buyer didn’t really know the buyer, they do the show. Right. Now, this is not what discount brokers do it the same way. But this was not what the discount brokerage I want to throw that out there. Now teams are being assembled now, which is a complete disservice for the agent and for the

D.J. Paris 12:29
so what we’re talking about for the listeners, if you’re not familiar with this is a team structure. This is not the way Sophia and Jason do it. But their team structure where their people are assigned roles tasks, they’re not full service, each member is not full service. So they get assigned, and they get passed from person to person.

Jason Stratton 12:45
Yeah, so what ends up happening is, is that there’s no relationship that’s built and no one’s driving the car, right. And I have noticed that these team members never get good at the craft, because all they’re doing is one aspect. And one task of the whole thing. I think as an early agent, if you’re in this type of team, you need to make sure that you don’t get pegged as a buyer agent, as a seller agent, as opposed to just goes and does inspections, opens the door or open Yeah, you need to know to be successful, you need to know from the rooter to the tooter you need to know everything. And I think how, how the how everyone is doing it now is trying to emulate kind of how some of the discount brokers are doing it and try to team up that way. And I don’t think it’s the best. I mean, as an agent, I don’t know how you grow, because you’re only doing one thing. And as a consumer and as a seller, how do you know that you’re being represented properly? Because who is your representation? Who is the person that’s driving the truck? And I will tell you, for me personally, dealing with those situations as a buyer’s rep or as a seller drop depending on what side it on the opposite side of the transaction. Thank you Sofia is extremely frustrating. And the success rate of those transactions is not

D.J. Paris 14:20
Yeah, boy, I I’m with you. I think that I think that’s right. And I also just think back to my own experience when I bought a condo million years ago that I had one point of contact one broker, of course, it’s fine to have an assistant and an admin and that sort of thing. But I’m glad I only dealt with one person who really understood me who understood the trend and held my hand every step of the way in particular because it was my first transaction

Sophia Klopas 14:42
you trust for sure. So you knew they were they wrote the contract and they were at the inspection with you and they went through the whole thing so that you formed that bond. And it really I mean it the biggest part about it now is having trust that someone is putting you in the right direction. And if your agent isn’t with you at the inspection, how can you talk intelligently to your client about what’s important and what’s not? If you weren’t there?

D.J. Paris 15:09
It’s impossible. Yeah, it makes, it makes it a lot a lot more difficult to build an intimate relationship when you there’s many different points of contact.

Jason Stratton 15:18
And that intimacy is what you’re really going to build your relationship on, for further referrals. Right? These people are not setting themselves up for referrals. Because when that person is at a dinner, and someone says, Oh, you just bought a place, or in five years, or 10 years, when someone’s like, oh, I want to buy a place. Listen, that person, remember six people they dealt with, they don’t remember the one point of contact that got them through everything, and that drove the bus? And how are you going to get referrals? When you’re only one part of what’s going on? I think it’s, it’s just, it’s a disservice to the agent to the client. But we’re talking to agents now to the agent that joins that team. And that’s how it’s set up. It’s a disservice to them, because they’re not going to,

D.J. Paris 16:07
I think I think that’s such a strong point. And Jason, I appreciate you sharing that, that it’s a disservice as well to the broker, because we’ve had other we’ve done other podcast episodes with people who have similar views about those types of teams, but they don’t talk as much about how it really hurts the person’s individual growth. Yes, of course, it’ll hurt the client relationship, potentially unlikely. But it does, you’re right. And also, if you’re just the CMA person on the team, or you’re just the closing person, or whatever, or you do the initial walk, you know, the showing, yeah, you’re not getting that holistic experience. And really, that’s what the, that’s what the buyer or the seller wants.

Jason Stratton 16:45
So our team is set up, as everyone is their own individual Cpl. Right, me as the FIA, excuse me, Sofia and I are there to help you through that process. And to make sure that what you’re doing is right, because, you know, overall, you’re representing Sophia and I and COPPA strat, so we definitely want to be there. But we want, like, I want you to know, hey, when I take this listing, I have to reach out to the management group, I need to get the assessments, I need to get the reserves, I need to get minutes, I need to coordinate the meeting everything from the big three. Yeah. And then I always say to Sofia, you know, like, and you hear it all the time, what you know, like, if someone if we teach somebody so well, and they end up leaving us because they’re super successful, I would never have any resentment that I wouldn’t be, it would be a testament to the job that

D.J. Paris 17:35
Oh, and those people are going to be your advocates forever.

Jason Stratton 17:40
Yeah, you’re empowering them to you know, it’s just it’s a completely, it’s a completely different model. It’s extremely, like time consuming for Sofia and I, but it’s not only the right thing for the agent, it is by far the right thing for the client. Well, yeah,

D.J. Paris 18:02
Sophia offline was sharing the story. And she actually shared a little bit of it here, but just to reiterate, she she knows someone who recently passed her exam joined a firm, not not there, your team or your firm a different a different company, and is now calling you with questions. Because maybe at the firm, that person is out, there’s resources might not be there.

Sophia Klopas 18:24
Yeah, she’s not getting the support or doesn’t feel comfortable for the support. So yeah, it’s just really important that they know that the people on our team, and the people that work with us know that they can ask us anything, no matter how, what they might think, is dumb. As long as it’s not the same question 10 times, because then that’s a little much. But in general, we operate with the concept that we all use the they all use our assistant, so Sydney so that everybody is doing the same thing. And that if my client happens to be in the hands of Chris, Zach shopper, Erica, they’re getting the same service, they would be with me. Yeah,

D.J. Paris 19:11
I just think the idea that they can reach you, somebody could join your team, you guys are a top 1% You know, your top 1% producers and all of Chicago that they’ve Of course, that’s all we ever interview on this show. So I think, you know, I didn’t mention that I should have but to be able to say hey, I’m on a team with top producers for a long, long time, who I can go to whenever I have questions. And in particular for newer brokers, of course they have a million questions that’s normal. And to be able to, you know, most most firms have some version of support some version of training. Some are better than others, obviously, but to also be able to say, hey, no, we’re, you know, and obviously you guys aren’t bragging about your success, but you have a tremendous amount of success. I’m sure your team members greatly appreciate just the experience that you guys bring to answering their their support and training class. Students

Sophia Klopas 20:05
also, Cana has a ton of I mean, the amount of training that’s offered to them, but it’s just the amount of training. I mean, you could literally go to a class every day and learn something new. So, you know, in downtime, I’m constantly telling them are you going, you know, I still go to the training courses, I mean, there’s always something new to learn. So, you know, pushing the education pushing, you know, learning about remain learning about, you know, how to do advanced CMAs new programs that are coming out CRM, all of that is, you know, your broker pushes you, but we also push them. So to learn the new technology that comes out,

D.J. Paris 20:50
yeah, let’s let’s talk about the client experience a little bit. And I’m always fascinated to ask this question. And everyone has a bit of a different answer. But what do you think separates you know, you guys from from other brokers, obviously, you see good brokers, bad brokers, successful, unsuccessful? What do you think makes you guys so different and unique?

Jason Stratton 21:14
Do you want to answer that? Or? Yeah, you can. I

Sophia Klopas 21:18
think a big part is not necessarily the sibling part of it. I think that’s out. People always find that to be an interesting aspect to it. It’s that we attack the same piece of property and from a I mean, I’m from the left, he’s from the right. So the way I will assess the property versus the way he assesses the property. And a lot of I mean, we sell it as your words, your package when you’re listing and you’re gonna get the analysts I mean, I’m analytical analytical, but not to the degree that Jason is and I am much more on the aesthetic side and feeling of it that they’re getting, like a full rounded to two headed monster for the

Jason Stratton 22:10
eye that that and then you know, like that you can just count Sofia, because we as a fuel will have. Listen, we have constructive arguments. And that’s why your partner right? I have three kids. Sofia has none. So we look at property that differently, too. Yeah. Huge one. So like, I’ll be, I’ll be like, Oh, this place is terrible. Oh, why? And she’ll be like

Sophia Klopas 22:30
this. I could live here tomorrow.

Jason Stratton 22:31
I believe her perfect. I forget that. Right? Because I’m so inundated with the fact that you know, I’ve read monsters at home. And she got into like, I kind of look at these differently. And a lot of my clients have kids and a lot of Sofia’s clients don’t. So it’s really cool. Like, you know, like that we we literally it’s Potato Potato I mean like it’s we look at the same thing completely different. So we can really hit every angle and every type of buyer that could possibly be that could

Sophia Klopas 23:02
possibly call. And a lot of times like there’s a buyer that I meet and I’m like oh my god you would work so much better with my brother vice versa something and then I ended up and one thing I do want to point out that we do do and we are pretty strict about it is if Jason starts the transaction he finishes it is confusing for the for the client. Plus we’re too busy to each take on each other’s work completely but once the transaction starts it start to finish with whom whomever they’re best suited or best man

Jason Stratton 23:37
Yeah, like we collaborate throughout the whole process of the process. And but once once the trains run in, it’s one person on that property, right? So like, I have a property in Wicker Park that I need help pricing, right, it’s my client. Well, I’m after here after this, we’re going there. And we’re gonna we’re gonna figure out how we like how we can price this better looking at it a different way.

D.J. Paris 24:01
Ya know, it makes sense. And you guys both have different backgrounds, different perspectives different you know, even just Yeah, and just different have different lives. So it’s, it’s, that’s huge. And again, the two for one thing is a pretty cool sales pitch. Right? That makes a lot of sense.

Jason Stratton 24:20
That’s fine for a second to short. Just one other thing for those that are new. I think getting back to and not even teams for people that are like, you know, hey, I want to concentrate on buying I want to concentrate on selling. You will never be a good agent unless you sleep. So it so I don’t listen, I love the agents that I work with, but when I’m on the phone with them, I’m trying to out hustle them and outmaneuver them and outsmart them. And if you’re only working with buyers and you’re only working with sellers, how the heck are you going to outsmart someone that you’ve never been on that side with? That’s my friends. I just I I think someone’s saying they’re only working with buyers and sellers is the most. I mean, I just don’t pull punches.

D.J. Paris 25:06
Yeah, well, it’s not it’s not a very holistic. Well, it’s just you just don’t have the experience to really provide full service at that point.

Jason Stratton 25:15
Yeah, I mean, it’s like as an athlete, you know, if you’ve never played defense, how you no offense. But I just didn’t want to forget that either. For people that are newer agents, I think that’s, you know, and

D.J. Paris 25:27
let’s talk about the rise. And I think this is all in the same vein as talk about the rise of the discount model, right? We have, there’s lots of companies that that are doing that Redfin is probably the most, most obvious, but there are others. And Jason said something before we got on that was he goes, I love these discount. You know, shops, because for brokers like Sophia and Jason, you know, who are full service and really value what they offer. They are not in any way concerned. But can you talk a little bit about that? Do you want me to it’s gonna?

Jason Stratton 26:09
No, I want it because first and foremost, if someone feels that have one basis at one point, so let’s say let’s take, let’s take a million dollar apps, right? If someone feels that saving 10 grand is worth having growth, people in a rotation showing their place. He’s all over, he’s all over the place, no one knowing anything about it. And having a person who gets paid $30 to open up your door. If that is what you think you want, right? You don’t want that clients. Right? So the type of person that like if I was saying, this is why I really want to go go ahead and skipping around and I’m one of the people you have to keep focused. So you’re back. I think that someone that’s looking for that it’s not someone that I want to work with.

Sophia Klopas 27:03
And that’s not going to value

Jason Stratton 27:05
the job I want to do. I want to work with people that want to work with me. And I want people to appreciate what I do. I think you know, not to get to, you know, all over the place. But life’s too short or work for people that don’t value what they do. Because let me tell you something, can we do? We all do. And if someone is not going to hire you over a point, you don’t want it. And don’t discount your services. That is a slippery road. Do not discount your services. Because, listen, would you rather have like, you know, don’t get into an ego battle? Would you rather have 100 listings at 4% or do other 660 listings at 6% You’re gonna work twice as hard for people that don’t care about you and don’t value what you do. Right for people and then work twice as hard. You work half as much and work for people that enjoy you and that you enjoy the work and there I don’t care what anyone says less like work. Yeah, it’s less than work. It’s people that are working. It’s a partnership people are working with you. They understand what they’re paying you for. Don’t get caught up into that. And I can’t think of anything better than I had a friend I have a friend who is who is a huge B cells. He calls it content because isn’t the best shirt. So he sells TV show. And we were talking about four or five. Man you know time flies, maybe 10 years. But anyways, you don’t want to be like Best Buy used to be don’t want to lose, you’ll absolutely lose your life and I’m not going to fight Zillow, I’m not going to fight these people. Because you’re going to lose what at Best Buy new because we’re not going to fight Amazon. We’re going to restructure at Best Buy. And we’re going to provide excellent service and thriving. If you are at home and you’re a new agent, and you’re freaked out about Redfin, you’re building your business.

D.J. Paris 29:03
And like you were saying, those are clients that aren’t going to value you anyway. So that you shouldn’t almost ever even bump up against it, right? Like it shouldn’t really even be in your periphery, unless you’re specifically going after, you know those type of clients and you’re trying to upsell them, which is tough.

Jason Stratton 29:24
What’s happening is what’s happening now. Oh, I got a bunch. I get a bunch of phone calls. Well, we listed with Redfin, last year, nothing happened. And of course, and you know, we need a full service brokerage. Are you interested in selling our house? Of course, this is what I do. This is what I’m going to do. If they don’t do

Sophia Klopas 29:45
better when they come from that environment actually, look up what you’re telling me.

Jason Stratton 29:49
It’s all going to happen, right because you know, the cream rises to the top Anyone, anyone can be, I will say, Sofia and I did like good business, the minute the market jar melted down, some businesses doubled.

D.J. Paris 30:09
Yeah, you there’s not a lot of competition at the top, there just isn’t and which is, by the way, evidenced by how generous Sophia and Jason and everyone else we’ve ever interviewed for this podcast has been. These are people that are like, like Sanjay Singh who are not worried about, you know, discount firms, they’re not worried about other brokers, they are just working on their own skill set their own relationships that are clients, and they thrive, despite the fact that there are discount firms doing it for a lot cheaper, right.

Sophia Klopas 30:42
I also think a really important thing to tell somebody who’s in the business, that starting out is don’t veer from your plan, you have to make a plan, whatever it is, you have to make a plan. And you have to stick with it. As tempting as it may be, to say, I’m going to take a listing that a I know that the seller is probably not the right person for me, B, they tried to talk me down on commission, it’s sometimes it’s hard to walk away from that. But you have to walk away when it doesn’t follow your business model. And I did it two weeks ago, I just said no, I won’t discount my commission. I’m not a discount broker. And I don’t give discount service. So I won’t take a discount price. I didn’t get the listing, but I was fine with it. Yeah, it was more than,

D.J. Paris 31:28
by the way, you’ll know, I’ve heard this from my own boss, who always said Never try to compete on price, you’ll always lose, you’ll always lose for a million reasons.

Sophia Klopas 31:39
You know, to take less. I mean, that’s not the word I use, but someone’s willing.

D.J. Paris 31:44
Well, I mean, if you think about like the the flat fee model was, you know, 10 years ago was sort of this thing that was seemingly pretty scary, because it was broker saying, hey, I’ll put your listing on the MLS for $300. And that’s it right? And then you, you know, I can still help you a little bit here and there. But, you know, the seller really does everything else. And, you know, I thought, well, this is going to be the end of the realtor, because it’s it, you know, obviously I was wrong. And the reason I was wrong is because you guys are so much more valuable than putting the listing on the MLS. In fact, that’s probably the least valuable thing you do, right? I mean, anybody can do that. But what the part that buyers and sellers need help with is like the other 99%, that can’t be automated and can’t be streamlined. And that’s where yeah,

Sophia Klopas 32:33
don’t give away your your, your go into a listing appointment, I don’t tell them off the bat, you need to do X, Y, and Z, and I’m gonna give you the pricing and all of the comps because then they can do that, like, my, my knowledge and my experience is worth something. And you know, like Jason and I will go into this, I don’t go in and just say here, I mean, unless it’s unless it’s a repeat client, you know, that’s a different story. But going and cold, I don’t, you know, I don’t give the milk away for free. I don’t do any of that until I actually you’ve decided you want to work with me. Like, I’m not going to buy a listing, which is basically when you you know, you say okay, we can list it for this, which is a ridiculous price.

Jason Stratton 33:16
Because the price is right when the price right is what it is. We are

Sophia Klopas 33:20
service, right. So we know, I don’t even like to talk about the price.

Jason Stratton 33:24
I mean, it can be $1 Give me 100 million, it’s irrelevant, you know, hey, listen, this is what you know, because at the end of the day, the owner is going to price their place where they want to price it. And then you can say, You know what, this is a waste of my time and money because it costs 1000s of dollars to listen writers and you’re writing it right? So it’s irrelevant. It’s you know, it’s it’s not worth take.

D.J. Paris 33:46
I was I was at an event, a year, a year, about a year ago and in New York, and they had the most successful realtor in the country. And I forget his name, he’s on a TV show as well. But he’s out and then so he’s out in Silicon Valley. And he said, you know, we were he we were talking or he was talking to the audience about what like what he does that’s so unique. Why is he so much more successful in his average sales, like God knows, I think it’s like $8 million, something incredible. And he said, well, on day two of each listing, he goes you can’t just put this these on the MLS and they sell like that’s not how it works at that price point. He said the MLS is almost irrelevant, you know, and he said, but on day two, I’ve spent 30 grand of my own money marketing this property because I know what I’m doing like people pay me a huge amount of money to sell these incredible homes because I put my own money and invest in you guys were just mentioning you spend money to and we know what we’re doing so that’s why and that’s what separates you from from somebody just putting it up on the MLS right.

Sophia Klopas 34:50
Listening to and you spend your I mean, what other there are very few professions where you actually potentially are working for free. Like you don’t get paid unless it sells. So to take a listing and spend all of that money, and we’re really talking about listings a lot here, but you take the listing and you spend all that money, you’re not going to do it on something, you don’t have the confidence in that it’s,

D.J. Paris 35:15
well, I admire your your both of your tenacity and persistence in your values and in how you guys run your business. And I love that you walk away. Hopefully, you don’t have to do that that often. But I’m sure you know, like you said, it happens. And you guys are confident enough that there’s enough business out there to be able to walk away from, you know,

Jason Stratton 35:35
they’re always right. So and, you know, I will tell you, like, I know, I know, when we Sofia, and I will have like a bad client, or we feel like we’re having a bad client, we’ll call each other. And she’ll be like, because we just did that recently recently announced, like, don’t take the listing. Here’s the problem is that time sucks. And I’m not talking. Not intentionally, yeah, emotional. So like, don’t get I’m saying it the wrong way. Like, it will, you know, a $20,000 commission from from just a rock your rice and will cost you 40. Because you’re not out there, and you’re not lively, you’re not you don’t have you’re skipping your jump, you don’t have anything because this person is beating you down, and it affects everything else. Like when you I will Sofia and I have all been there, but I’m telling you, as a new agent, don’t be afraid to fire somebody and walk away, and I’m telling you the next day, you’re gonna be like, I fired this person, I’m gonna pick up three other listings or two other clients, and I’m gonna be happy about it. And it’s going to alloy and remember that place. And I could say something else, too. I had a really, I had my financial advisor at one time was talking to me, who actually used to trade for me. So we’ve been knowing each other since we were, like 25 years. And one time I was I don’t know what I was doing something. I think I was like making high keys or something, whatever. And he said, he said, he said I had a one guy I had a guy once when I was training, who said to me figure out what this is great for us figure out what you make a writer. Yep, figure out the hours that you can make any set and any task that’s beneath that hourly wage. Yeah, delegate

D.J. Paris 37:28
it, if it needs to be done, find someone else to do it cheaper. Right, your service,

Jason Stratton 37:34
whatever, and stay focused to making money, like your hours should be focused on that hourly rate, not on a $10 task. It was one of the greatest things that someone said to me like four or five years ago

D.J. Paris 37:47
well and I think everyone listening whether they’re new brokers, existing brokers, even top one percenters, like yourselves, we all can always readjust and go you know, I just spent two hours doing this particular task that I could have outsourced or I could have had someone else in the office do and or just isn’t worth doing at all. And to be able to walk away from that it’s tough because we like to be able to get things done and do things it’s okay to to walk away

Jason Stratton 38:14
yeah, I think that’s I think that’s that was that and I think another thing that we learned I know we’re running short on time I think another I could tell you another thing is it’s hard to say this when you’re when you’re early agent you’ll take a listing because I did it you know and kingdom come you know wherever there’s a client I will be there at some point that hour and a half you’re driving is costing you way more than that commission check you’re getting at some point you have to become hyper local.

D.J. Paris 38:46
Yeah, I mean unless you’re moving there next year. Yes, probably not not the best idea but yeah fine. And also by the way, you can’t possibly know that that area as well as your own targeted you know area that you work most of the time right like how much value are you even really providing if if you don’t really do business out there

Jason Stratton 39:08
aerc Set Status down I want to say

Sophia Klopas 39:11
she was our broker

Jason Stratton 39:13
Yeah, I like like the three the three times that we had the hugest jumps in our in our you know in our production where the dropping oh a one in weeded out everybody and then the cream right the people that wanted to work no rice the top the second for me was was delegating and getting an assistant and the third which doubled our production was becoming hyperlocal.

D.J. Paris 39:38
Yeah, that’s boy, I think that is a great place to end because those are three really, really great, great points that we that I want the listeners again, no matter what level of production you’re at top producer to, you know to brand new. Those are those are great things and also I want to make sure a couple of things to finish up on Sofia and Jason do have a team and if you’re looking to work with a team like this, if you’re a broker, you’re listening, and you say, Boy, I’m not really getting this kind of support or service or these these two sounds really cool. And I want to work for a team like that. What’s the best way that a broker or even or if a buyer or a seller or renter and investor is like, hey, I need a new broker and I want to work with with the Copa Stratton team, what’s the best way that you know that people can reach out to you guys?

Sophia Klopas 40:26
Email in s? My first initial my last name s clo class at Kane, egg rube Lof. Are you bloff.com? Or sell 312-927-0334

Jason Stratton 40:46
Awesome and follow us on Instagram yet? Well, yeah.

D.J. Paris 40:51
Yes, club Australian underscore team, we will put a link to that by the way, they have an a fantastic Instagram account. And for those regular listeners, you know, we have Carrie McCormack on every month and Carrie McCormick has an incredible Instagram and she follows these guys. So she follows they must be doing something really cool. And I follow them to they’re actually very, really cool Instagram. But please, and you can also contact them directly through their website, which is closest stratton.com We’ll put a link to that in the notes as well. But I think I think we covered it all. Really, I mean, this was great. And so I want to just think first of I want to thank the listeners for for you know, sticking around for another episode. This is certainly one of my favorites that we’ve done. But also I want to thank of course Sophia and Jason, you know of the Clovis Stratton team and and it really you know, we were so honored. This is Gosh 80 Something episodes in that these top one percenters who are too busy to do the show. Find the time to do it as a way to give back to the real estate community. We’re so honored that they do and and it was fun to and so guys, thank you so much. We really appreciate it.

Sophia Klopas 41:57
Thank you have a good one. I

D.J. Paris 41:58
will see everyone on the next episode. So thanks

Welcome to the February edition of Coaching Moments with
Ryan D’Aprile!

In this episode Ryan spends a full hour on lead generation – the most important component of a broker’s business. Ryan spends time on the difference between lead gen and marketing, and gives the exact strategies his teaches his brokers on how to add more contacts to one’s database and how to stay in touch over time. Also, Ryan reveals that in every broker’s contact list, there are a minimum of 32-64 transactions per year (and how to capture those deals)!

Ryan D’Aprile can be reached at 312.492.7900 and execassistant@daprileproperties.com.

Ryan D'Aprile
daprile properties logo

Transcript

D.J. Paris 0:14
Hello and welcome to another episode of Keeping it real the only podcast made by Chicago real estate brokers for Chicago real estate brokers except I’m going to change that and say it is made by Chicago real estate brokers, but it’s for brokers all over the country. We do have listeners everywhere. So I’m going to teach myself not to say should just for Chicago brokers. Anyway, today is our monthly episode with Ryan Day, April. And this is called coaching moments. And Ryan is with us if you don’t know Ryan, you should, because not only is he the owner and operator and head coach of the April properties, they have 13 offices all throughout Chicago and the suburbs. He has hundreds of Realtors, lots of top 1% producers, and Ryan spends pretty much all of his time coaching and developing the careers of his realtor. So we’re so honored to have him on the show. He’s a legend in the Chicago market. And we’re really honored to have him today. So Ryan, welcome once again.

Ryan D’Aprile 1:10
Thanks, CJ, it’s good to be here. Oh,

D.J. Paris 1:12
let’s plug your let’s plug your company’s website. It’s deep, real deep, real properties.com. That’s it? All right, great. And if you’re a realtor out there and you want to study or interested in maybe joining Ryan’s team, go to do properties.com. And you can contact them and you can find an office near you and and schedule a phone call or consultation. Or if also if you’re a buyer seller or renter investor that’s interested in working with with one of Ryan’s brokers, you can do that there as well. So anyway, I’ll turn it over to Ryan.

Ryan D’Aprile 1:43
All right. Thanks, DJ. Well, thanks for having me appreciate I’m really looking forward to our our monthly meetings. And these are coaching moments that we’re doing. So let’s talk about what we want to cover today. And last month, we covered a morning routine, right? So what I’m going to do today is go over what I review with our agents and what we call our coaching one session. And so I have coaching session one at coaching session two and then we have workshops. And in summary what coaching session one is about it’s it’s kind of it’s like the game of real estate and life in general that we’re going to reveal and so workshop is we’re we’re sleeves are rolled up and we’re doing work. This is more instructive. And just showing everybody like let’s relate it to a board game Monopoly it could real estate board game. And so what we’re gonna do is we’re not going to play the game a nap and Napoli today we’re going to talk about it, we’re going to lay out the board or and show you the pieces, right, here’s go and pass, go collect 200. Here’s boardwalk, that’s a good one to own. And here’s JL and we’re gonna talk about all the different products of real estate. And we’re talking about mindset and attitude. We’re gonna talk about systems. And we’re gonna talk about skill set, and how it all comes into play. And basically give somebody like, you know, a 60,000 foot near view of the game of real estate and how to play that. How’s that sound?

D.J. Paris 3:06
Perfect, I love it.

Ryan D’Aprile 3:09
So let’s go over a couple of principles that so many famous authors and, and economists and gurus have told us over and over again, EMF, Michael Gerber’s, book eater, classic, classic, right 80% of small businesses fail within the first five years, and 20% stay open after five years. And I think he goes on to say, of the 20% that stay open, 50% of them should have shut their doors, right, working longer hours making less money than if they actually just had a job with the weekends off. And so the book talks about systems, and we’ll talk about systems. And what we’re going to do though, is we’re going to talk about the two different types of businesses, the ones that thrive and the ones that die or struggle. And the difference between the two of them. What do you think that get what would your guests be? DJ, the difference between those two types of businesses, the ones that thrive, versus the ones that die and fade away?

D.J. Paris 4:09
Well, I would think that the ones that thrive, figure out how to scale so they have systems in place that allow them to grow. As as new business comes in that

Ryan D’Aprile 4:20
scale, and systems systems are important, because then essentially, your company begins to work for you instead of you working for it. Right. Now, I grew up in a small entrepreneurial family and my father was, you know, an entrepreneur and he worked so hard for my mom and my four brothers. But my father always worked for his business, his business never worked for him. And he provided me a great example when I started reading E Myth to think about how important is to create systems and to scale and by the way, my father was one of my idols and most favorite people in the world. So that wasn’t like an underhand sleight against my father. It’s just that, you know, we all have to educate and learn Ernie and in, you know, you learn from people from what they did well, and what they didn’t do well, and my dad having small auto parts stores throughout the Southside Chicago, and how much he worked when it became an adult, and then I became an entrepreneur, I realized how important systems and scalability is. And so, yeah, so systems is is one of them. Another thing is our skill set. Right? You and your team work on skill set training, and a consistent basis, right?

D.J. Paris 5:28
Absolutely. And I’m just going to go back to scalability for just a moment, I just want to make this point, because it comes up in every single interview we do on this podcast, were usually the broker who is now a top 1%, producer and as a big superstar at some point in their career, or even they might be at this currently when we interview them, but they’ve all either are going through it or have been through it to get to a place and it seems to be around the 12 million to $20 million production number, which is a huge number. And where they start to go, Oh, my God, I’m working 120 hours a week, and they have to figure out a different solution. So sometimes it’s by necessity.

Ryan D’Aprile 6:07
It is and then it’s also now this could digress, I won’t go too down this path short, regarding that what you’re talking about, it’s also understanding your why. Right? Willing, and so some people when they come to those forks in the row, some of them go and grow teams, because that’s, you know, what a lot of people do, and that’s what some stop the Analyze, and they start with why first a great book by Simon Sinek. And you have to ask yourself, why are you doing what you’re doing? And a lot of times we forget that. And sometimes we go down these paths of starting these teams where some people make sense, but a lot of people doesn’t make sense. And there’s a point of diminishing returns. And so I could talk forever about that. But yes, you’re right. I mean, they get to a certain point. And then you have to ask yourself, What’s the system? What’s the scalability? What do I want to scale it to? And then where’s my point of diminishing return? Like, where’s my sweet spot? And maybe it’s right there. Or maybe I keep going, I keep going, it depends on who you are. And it’s really important to know who you’re, you know, it’s boring to know yourself, and what you’re setting out to do and understanding that your y will change, you know, from year to year, if not week to week at times, for sure. So yeah, so So skill sets important, right? And has real estate agents or mortgage lenders, or insurance salespeople, or doctors or dentists, or professional athletes, we should be going in and working on our skill set to perfect our craft, right every single day, every single day. And then another thing is internal versus external. And what I mean by internal versus external, is, let’s talk about shifts in market for a quick moment. Okay. Sure. I don’t know what the year was, was before I was in real estate, I think it might have been 1997 1998. We went from we say we that was a real estate agent then. But they went from the books to the MLS service, right, it was a shift in the marketplace because of technology. You know, and then the disruptors came in 2001, and two, and that’s a shift, and then the great recession came. And that’s a shift. And when you look at the companies, and I’m just using the real estate business, for an example, there’s so many other industries that are as examples. But if you look at the companies that didn’t make it, it was really the internal factors that destroy them that the external factors, markets are always going to be shifting. And so when I say internal versus external, I’m talking about your mindset and your attitude, it’s usually the inside that’s going to make you thrive or make you die. So I think of the difference between the two businesses, the ones that thrive, or the majority that don’t make it. And real estate agents are small businesses. So you just have to take that to mean the numbers aren’t going to lie. And everybody who’s listening here, and whether you’re brand new in the business, you’ve been in it for a while, there’s a certain percentage view 20% or less, that are thriving are making it and the difference is is the foundation, what’s at the foundation of everybody’s business. And the three things I think should be at everybody’s Foundation is a their mindset and attitude. Be their systems, and three their skill sets. So that’s the difference between the two and outs. This is different, you know, this is I think, my third podcast with you as dever. Yep. And so I’m right now at a whiteboard, and then pacing up and down. So when I teach, I’m a very visual teacher. So you really can’t see anything I wrote on the board. So I’m getting used to talk in the radio and realizing people can’t see what I’m saying. So I’m going to just try to describe what I’m seeing here. And I have two triangles drawn next to each one upside down and one is right side up. And the one that’s right side up has that foundation of the mindset, this, the systems and the skill sets. And when the markets shift and change. These are the businesses because of the internal factors that they have, that are going to keep them thriving, versus being able to collapse when a simple market shift happens, which isn’t always happen.

D.J. Paris 9:55
So could this be to to illustrate an example so maybe this seer. If, for example, the sales market potentially could be softer right than it was in previous years, we see mortgage applications are down. So you may see, we may see brokers who are wanting to adapt to that shift switching over to do more rentals, for example, would that be an example of an adaptation?

Ryan D’Aprile 10:17
That’s an example or say, when the market shifts and it saw a softens, what you’ll find out is sellers, you know, who wants to sell their home, are going to do a flight to quality. So they’re gonna find agents that have the skill set, the agents that are top of mind which comes to your systems, and the agent, they have really good reputation and done good business for themselves. And that comes to the mindset and the attitude. So when these markets shift economically, when markets go from, from a hot seller’s market, to a normal market, or to a buyers market, whichever one it shifts to, you start to see if flight to quality, especially from a seller’s market,

D.J. Paris 10:56
to a buyers market makes makes perfect sense.

Ryan D’Aprile 10:59
And so we as real estate agents, we have to understand when that flight to quality comes, are we prepared for it? And then we got to look internally, we have to look inside, we got to look in the mirror and say, Am I doing the things that I need to do on a day to day basis, in and out to achieve more? I think to you know, this is something that I think I mentioned our last session, I love podcasts, I love coaching sessions, and I love seminars, and I think agents need to continually go to them, I heard a statistic, that when you go to a seminar, within an hour of leaving, you’ve lost already 50% of the stuff that you’ve heard, right, and within 24 hours, you lost up to 70%. And after a week, you’ve lost up to 90% Of course we have we have so much data going through our minds every single day with work and life and, and everything else that’s going on. So it’s not like you can, you know, go to one coaching session, one podcast or one seminar, and think you have it figured out yet to continually work on your craft and be passionate about what you do. So let’s look at these two businesses. I’m going to talk about the two foundations, and we’re gonna talk about the mindset and attitude for a little bit. Okay, I’m gonna talk about the mindset for about five minutes here. And then I want to jump into the systems if that’s okay with you perfect. So to talk about mindset, and how it relates to the systems, and what we have to do on a daily basis to be successful in real estate, to be successful in any business that you’re in, your primary objective has to be finding a client, would you agree?

D.J. Paris 12:36
Absolutely. 100%.

Ryan D’Aprile 12:38
Okay. And there are there is our craft and what we do on an on a day to day basis, right? Listing the home, marking it properly communicating with the client. And that’s very important, and you have to perfect that. But if you don’t have the client, you’re not going to have the business or the opportunity to perfect that.

D.J. Paris 12:56
Right. That’s, that’s the customer service side of it, which assumes you’ve already had the customer.

Ryan D’Aprile 13:00
It’s exactly right. And it’s a transaction management, which a lot of times comes naturally because we are not the party that sold the home. And I think it’s really important for our listeners to understand their value. And a lot of real estate agents don’t understand the value that they provide. And some think it’s actually access to the MLS or some marketing. And I really feel strongly that the value that we add is emotional intelligence, and not being emotionally attached to the transaction. And if it wasn’t, I don’t think we would be in business,

D.J. Paris 13:37
right? Zillow does a good job of providing all the information. Anyway, what they aren’t providing is, you know, the emotional side of it. You’re

Ryan D’Aprile 13:46
right, the life consulting, giving advice, there’s so much more. So anyways, let’s get back. So So we’ll talk about the mindset now and how it has an effect on our primary focus of finding the clients. So what we say is we say find someone who wants to buy or sell a home. And when I teach this class, I write that on the board. I’ll ask anybody in the audience if they could define lead generation. Are you familiar with the term lead generation? Of course, of course, right? Everybody’s familiar, the term lead generation, I want you to do. Do something for me next week, DJ Sure. When you come across 510 Real estate agents, ask them to define lead generation for you Sure. And we just watch and listen to the responses that you get. And I bet you will probably get 80% of the incorrect definition of it. And their current definition of lead generation is finding someone who wants to buy or sell a home right? And so why I’m talking about that now in the mindset is we have to understand as humans that like 95% of our day is ran on autopilot, right? What do you mean by autopilot? It’s ran by our subconscious mind. And I think you said earliest, when you and I were talking offline, it’s how you drive a car.

D.J. Paris 15:12
That’s the reason we could drive a car is we don’t have to pay attention to all of the subconscious things we’ve just mastered, so that we can pay attention to the road, but also remember to brake and hit the gas and, you know, hit the turn signal, etc.

Ryan D’Aprile 15:26
That’s right. And so when we have moments of consciousness and clarity, which is typically in a coaching or training session, for the moments that you are conscious and clear, we have to define and talk to our subconscious mind, we got to talk to our autopilot, and say, our number one priority has to be finding somebody who wants to buy or sell a home, and understand that we have habits that are going to continually bring us back to our starting point. So when you take when you when you look at yourself, and you look at life, and sometimes life keeps bringing us back to the same place over and over and over again, that’s just our internal GPS or auto system. And it’s our habits that are leading us back to where we need to be. So when we are taking moments to work on our business. And we think about mindset and attitude, we got to say what is the primary thing is actually find somebody who wants to buy or sell a home. And then I have to do 60 minutes to 90 minutes a day of activities that are going to help me find somebody who wants to buy or sell home. If I could do that day in and day out five working days, you’ll be a superstar, you’ll be a superstar. And then what will happen is, after a year, you’ll continually do it, but you won’t even realize what you’re doing. It’s just like you’re driving a car. But you just get that. Oh boy, Malcolm Gladwell wrote a book I can’t remember, was it outliers?

D.J. Paris 16:48
Yes, you just get your book your 10,000 hours,

Ryan D’Aprile 16:52
your 10,000 hours. That’s exactly right. So if you can, when you start that me, it’s perfect. It’s the beginning of a new year. If you can’t commit to being conscious, you know, a half hour a day to plan out what you want to do. And be very specific and direct with yourself. That my job is to find somebody who wants to buy or sell a home, throw away the word lead, generate, right, find someone who wants to buy or sell a home and then focus on those activities. And then you do that day in and day out for five days a week, you’ll be lightyears ahead. So now let’s move off of

D.J. Paris 17:27
well, I want to make one point about lead generation, because I think oftentimes, brokers like you were saying, maybe think about lead generation in in a more myopic sense, or maybe not as full. For example, what I, what I was going to mention was, here’s what I think lead generation is not, I’m going to send out a Facebook post, announcing a new listing right? Now, you may end up getting a new client as a result of that. But it really is sort of accidental, because you’re not necessarily looking for people specifically who need your services, you’re just announcing kind of throwing a wide net out and seeing if any fish land in, and maybe they will, maybe they won’t, but I wouldn’t consider that a lead generation activity, you’re not proactively going out and saying I need to find somebody specifically, who needs my services.

Ryan D’Aprile 18:14
Well, okay, so and that’s, and that’s extra, I’m going to talk more and more about lead generation. Now what I was gonna transition off of is the mindset part and the habitual and the auto body. Okay, I don’t. But you’re exactly right. And what’s as you’re seeing this, I’m writing on the whiteboard right now, because I just can’t help I, you know, I’m used to having a classroom of people. And I asked agents, and they have to understand the difference between these two categories. What is the lead source? And what is marketing? And I’ll hear agents say to me, I don’t do that. And let’s throw in an action. I don’t do postcards, or I don’t do email marketing, or I don’t do what, right, because I haven’t gotten a lead from it. And I asked him, I said, Do you know the difference between the lead source and marketing? So I don’t know if I’ve done this podcast before. But can I Sure. Can they do this? Yes. Second. So let’s go over lead sources. Okay. So lead source is your network? Correct? Right. That’s one lead source. Another lead source is a referral from your network, right? The two different things right. One is your network. One is a stranger that your network referred you to? Sure. Another lead source is a farm, right? A neighborhood that you say market to consistently or an open house and open houses a lead source or your For Sale sign? That’s a lead source, correct? Yep. All about a cancelled listing. Expired listing. Or for sale by owner. That’s a lead source, correct?

D.J. Paris 19:55
Yeah. Those are people that need your service.

Ryan D’Aprile 19:58
Hey, I might got to find somebody who wants to buy or sell a home. Yep, here. They live. Yep. Okay. Those are lead sources. Now, let’s talk about marketing. Two different things. Marketing is a tool that you use to communicate with the lead source. So marketing is a postcard. Marketing is email marketing, like an email blast, it’s called spam. Marketing is digital marketing. A lot of people are using stuff like AdWords right now. It’s a great platform to market. And by the way, let’s just let’s, let’s digress. So that platform, and they’re gonna get some good free advertising space here. Ad works will give you three different ways to advertise. Are you familiar with AdWords? Okay, and it’s okay to talk about,

D.J. Paris 20:48
of course, well,

Ryan D’Aprile 20:49
so you have three ways you can market your listing, okay? To an area, you could market yourself to a zip code, or you can market yourself to what they call a sphere of influence, sphere, sphere of influence network met database, it’s like Kasaa. And house, it’s the same same thing, just a different name. Be with me. Okay. So we’ll talk about the lakes are where we find buyers and sellers here. But I point out to everybody, you have to understand, you are gambling, your time and your money, no matter whatever business venture you set out, and you’re gambling, your time and your money. And you have to in marketing, you have to spend money, you have to invest money, but you should know the statistics and the return on investments. And we’re going to get and I’ll tell you right now, if you are looking at AdWords, you hit your sphere of influence. That’s what they call it, your network first before you go to the farm, right. But anyways, let’s come back to the marketing sources. I apologize. So you have postcards, you have email marketing, you have digital, what else? Oh, you have this thing called social media, right? And social media is Facebook, LinkedIn, Instagram, and whatever else might be out there. Correct. Okay, so I hear people say I got the sale, I got this lead. I have this buyer as well. Where did you get him? I got him from Facebook, to know you did it? Most likely, it’s a friend of yours on Facebook, they came from network marketing, you might put a advertisement on Facebook. But then where are you directing? Is it to people who like your page? Or typically your network, right? Or is it a zip code, which is a farm, but you have to understand what the tool is? It’s a marketing tool. So what you do and and again, I wish you had the whiteboard, or you could see it here. But I have my 12345 different marketing tools. And now you get to pick where you want to put them Do you want to put towards your network? You want to aim it towards your farm? Do you want to send it to like purchase web leads or whatnot? Does that make sense? Okay, so let’s transition over to systems right now. We’re gonna talk about systems and how we have to focus on marketing to become essentially the agent that number one agent in your networks mind, right? So. So our primary focus to be successful in this business when repeated again is to find somebody who wants to buy or sell a home. So I’m going to draw a triangle again, okay. And I’m going to draw two horizontal lines in the triangle. So that essentially I have three. I got three pools, I have the top of the triangle, the middle of the triangle, and the big base of the triangle with me. Okay, so the top of the triangle now these are now we’re gonna go fishing, okay. And in these three different lakes, that’s what these are. These are three different lakes, buyers and sellers live and it’s our job to find them. So the first lake which is at the top is what we call purchase web leads. What’s a purchase web leads

D.J. Paris 23:54
does it be a Zillow lead Trulia realtor.com, that sort of thing.

Ryan D’Aprile 23:58
Perfect. Exactly. So you could take your time and take your money, you can invest in it, you could put your picture up your your, your picture is gonna be next to other real estate agents, listings. It’s gonna look like your listing and Zillow selling you it so you can pick up the lead, in short, right? So that’s one place that we can go and fish for a buyer or seller. Another part, the next lake down is called Lake prospecting. It’s a little bit of a bigger lake. So it’s going to have different channels in it. Okay, so I’ll name some channels of prospecting. One is open houses, right? Who goes open houses, buyers? wires, right and who else goes open houses, sellers, and also people you can meet in your network. Now I don’t have the time and I don’t want to just eat into all our time here. But I this is for anybody who’s going to come to my coaching your regular insight lateral get set up with this question, okay? Because I see who comes to who comes to open houses. I’m going to ask it to you again. I’m gonna set you up with that Okay, DJ who comes open house buyers? All right, who else comes

D.J. Paris 25:05
neighbors? Sellers? Gosh, other realtors? Maybe?

Ryan D’Aprile 25:13
Yeah. See you past a lot of dead. You did a good job. I tell you what to do, but a lot people use the word nosy nature. Or they use looky loos I want.

D.J. Paris 25:25
looky looky and that’s great.

Ryan D’Aprile 25:29
I know, what can you use? If you had a gas? There’s 10 Real estate agents in front of us how many say they can’t stand the looky loos and the newspapers, right. And this is the internal thing that will kill your business. It’s your mindset. You know, I tell my children, you know, watch your thoughts, your thoughts become your words, right, your words become your destiny. And when you hear yourself speak, and if they come across negative, that’s how you’re thinking, and it’s gonna bring you right back to where you don’t want to be. And so there’s this matrix that I draw, right, that I’ve seen before. And we talk about your, your BS, you know, Bs stands for systems, right? Your belief system, right? A lot of people when I ask them what BS stands for, they say that oh, shit, of course. Right? And I see, well, you know, a lot of people’s belief systems aren’t bullshit. So you’re kind of right. Because your belief system leads over to white, or your actions. Man, you know what I’m talking about here? Right? Right. So I have the actions will then give my results, which will go down or reinforce my belief system or my bullshit. So you draw the red, right? You draw the green plus, or the red negative next to be right. And nosy neighbor or looky loo, does that get a negative?

D.J. Paris 26:44
Or does it get a pot, a lot of people gets a negative,

Ryan D’Aprile 26:47
negative, which then takes negative action with negative results. And then next day, you’re out. So sorry about that. But I always tend to digress back to the mindset. Because 80 percentage success, there’s no way of escaping it is going to be on your attitude and your mindset. Because if you don’t have the right attitude, and mindset, you’re not gonna do

D.J. Paris 27:06
and also, it’s the one thing you have control over, it’s about the only thing you have control over is actually your response to things, not the thing itself. Like, you don’t have control who walks in the door and an open house, but you do have control about how you perceive them and how you act towards.

Ryan D’Aprile 27:24
Right, and the beauty. I think the beautiful thing about our business is it’s just life in general meeting people. I mean, the most purposeful fulfilling part of our business, I feel is the clients that become my friends, and the relationship. Money is just a byproduct of this stuff. I’ll have another coaching session where we talk about starting with why and why we do what we need to do. But there’s a great exercise and as individuals, why are you in the real estate business? And some say for freedom, some say for money, and so on and so forth. And then I go to them, and I say, Well, I’m in it, because I have three daughters, and I would like to pay for the wedding day. And I’d like to be paid for them to go to college. And you know what, I love to travel with them. And we go to you know, we’re going to go to Vancouver ski as a family spring break. We just came back from Punta Cana and we’re, you were so lucky that we have a summer home in Lake Geneva, Wisconsin, and that’s why I work but it’s for the experience life experience. It’s not for the money, but they take butter. I really want to focus when I’m in this business. My first and for my first focus is people it and who do I meet? Because it’s, it’s not what you know, DJ, it’s Yeah, too. You know, it’s who you know, and it’s a cliche for a reason. And if you could come into this game, playing this game with the right mindset, and understanding, I’m just looking for adventure through people and meeting people, this business becomes easier and easier, and money just tend to follow. Okay, so let me come back to my triangle. Okay, we’re going back. We’re fishing again. Okay, we’re, we’re Huck Finn, we got the fishing poles out and we’re looking for buyers and sellers. We’re in Lake prospecting right now. And one channel is that open house channel, the other channel is a farm. Now what’s a farm? Most people know what it is, but it’s a neighborhood you live in, and you’re gonna send a postcard every month you’re gonna farm the community, maybe you’ll do an eight by eight strategy, and everything else that’s out there to farm. Another prospect. Technique is, you know, marketing to cancel and expireds and for sale by owners correct. But what’s a cancelled listing? Well, it’s somebody who’s no longer on the MLS. Describe that seller for me and I point right to the definition of regeneration. Someone who wants to sell their home for Yeah,

D.J. Paris 29:41
which is which is different from how most people would describe a canceled would be an angry, upset person who had a bad experience with a realtor which may or may not be true, but it is it is the automatic almost everybody in America automatic assumption we make.

Ryan D’Aprile 29:58
That’s exactly how we’re ready springs and they definitely that’s their emotion. But their desire is the home. Your job is to find them. So that’s another channel. Okay? And there’s there’s many channels in this this bigger Lake Lake prospecting. Now let’s come down to the base. Okay? This really big lake. It’s like the size of Lake Michigan. It’s called your network. You could call it your sphere of influence. You caught your met database, like I said, house in casa, right? Different name, anything your network. So these are the three places that we can find people who want to buy or sell a home. Now, do you see the triangle and you see the three different lakes TJ Can you see that? Now they’re no longer lakes. Okay. They’re now blackjack tables. Okay. Yeah. Okay, so now we’re gonna go gambling. And we’re gonna gamble two things, we’re gonna gamble our time and we’re gonna gamble. Our money. Is your money valuable yet?

D.J. Paris 30:54
For me? It I think it is.

Ryan D’Aprile 30:56
Right is your time? Absolutely. And our clients have more time than money. In fact, there isn’t anybody that I know that has more or should be more money than time I said it backwards, they have more money right than time. Time is more valuable than money. You can’t get time back. And our clients hire us no matter how many disruptors come in, because we fill a need. And one of these is we offset we give them time back in addition, emotional intelligence and whatnot. Now we got to look at it for ourselves. And we’re going to look at these three different lakes that were fishing in. And we’re gonna convert them now to blackjack table. Okay, and we’re gonna gamble we ever blackjack tips, or blackjack chips are our time and our money. And we’re gonna look at the first blackjack table, which is called purchase web leads. And your conversion rate, your chances of winning on this blackjack table is about a one to 5%

D.J. Paris 31:54
and five for you. It might even be a little high. But that’s yes. If you’re a absolute wizard, those leads 5%.

Ryan D’Aprile 32:02
Totally is I’m actually giving them the benefit of the doubt right? Here. Let’s go. Let’s take out the 5% one to 5% chance of converting. Okay. Now our next our next blackjack table, open houses and farming and calling cancels and expires about a five to 15% chances of winning a

D.J. Paris 32:21
few great sounds about right. Yep.

Ryan D’Aprile 32:24
These are pretty big, you know, Delta isn’t my percentages. But again, I’m just trying to make a point to the listener here. Then your network, your networks about a 75% chance of winning or more. Would you agree with that? Okay, cool. So you and I were at a casino together, and we have our chips, we have our chips of money and we have chips or time, where are you going to put your chips network. That’s where I’m gonna put my money. And so many agents in this business put their chips on the one to three 5% and to five to 15%. And that doesn’t mean there aren’t agents that can have success in doing that. Because I’m not sitting here right now saying, this is the only thing you should be doing. I have a cancelled expired strategy. I have a farm and Open House strategy, I have a purchase web lead strategy, I have a strategy for each of them. I might personally not execute on every one of them. Because there’s a point of diminishing return. But I do have a strategy built out for each one of these. But I’m going to start first with the one has highest rate of return, which is our network. And it sounds like you agree with that. Alright, so then let’s talk about that. Okay. So there says we’re still on the system’s here, okay, we’re not going to talk about skill set in this coaching session. Okay, skill set is buyer presentations, competitive pricing strategies, you know, your average days on market, your average list, price of sales price, the cost of carrying a home all those really important things that go on to, you know, growing your business. We only have like a one hour segment here. Right. So I’m just talking about the middle pillar, I talked a little bit about mindset, but I’m just talking about the systems today. And the sources of where we find people that want to buy or sell a home is that okay? So we are going to talk about our network. And we are going to look at the average person. And we’re going to pick a random number, which I don’t think is the number that’s on the line, or it’s too hard to achieve. So and I encourage anybody who’s listening to this, that is local, or shoot me an email or whatever, if you have any questions about what I’m about to say here, but I think on average, the average person knows 200 people in their community basically in there in Chicagoland they know, they could find at least 200 people you could find 500 friends on Facebook, that doesn’t count. But what we have to do is we got to start with a system. We call it our dashboard. Word, people have CRMs they have databases, but you have to lay out a plan. And you have to label out and you have to list out 200 people that you know, and you might not be best friends with these people. But over the course of two years and beyond, we’re going to take action to become closer to them. Does that make sense, CJ. And the what we’re trying to achieve is market share. And when I say market share, I don’t mean market sharing a community as a real estate agent. I don’t mean well, I’m a real estate agent, I got 10% of the market. That’s not the market share I’m talking about. I’m talking the market share of that, those 200 people or more that you have the market share of their brain. And so I think I did this last time DJ, and I apologize if I’m repetitive, but I don’t think it’s too bad to be repetition is a mother. Right? Okay, great. So let’s do this. Name of fast food, hamburger restaurant domain. Name a soft drink. Name and just to name a real estate agent, right. So you have to do that exercise now. Now, every listener here, just do that thing, you guys. So hamburger place McDonald’s, soda pop Coca Cola, gym, shoe, Nike. Now,

I want you to in your mind, ask your group of 200 people, your network, name a real estate agent? And are they naming your name. And so many real estate is when agents come and join our company, we have beautiful brand, we have beautiful product, but I’m going to empower you and coach and train you. There’s so many people are saying it’s the company brand that is so important. No, it’s you. It’s your first and last name. And it is the market share that you have amongst your network. Because consumers don’t hire real estate companies. I mean, they do technically, according to the law, but they hire a person, they hire a real estate agent. And if you are going to find somebody who wants to buy or sell a home, if you’re going to capture that percentage of business that’s coming out of your network, every single year, which I’m gonna tell you what that is in a minute here. You have to be the McDonald’s, Coke or Nike in those 200 people’s mind. And I’m telling you, that is not hard or expensive to achieve. Now, if I want to become McDonald’s or Nike, across the country, I’m in trouble. I don’t have a multi million dollar budget. Right. But for 200 people using marketing tools that I know are not lead sources, a lead sources and network lead sources, a farmer lead sources open house, I’m going to use the marketing tools, I’m going to use these marketing tools, I’m going to make them very concentrated, I’m going to hit that network properly. All right, you bet your ass after two years, those 200 people are gonna say, right. And the statistics are this 16% of your network transact every year. And a lot of them transact twice. Because if you sell a home, let’s say you buy a home. So if you have those 200 people 16% of 116 16% of 232. So if you have 200 people, and you have a complete database, and what I mean by a complete database, their their name, primary contact, secondary contact, and secondary contact is their, their, their spouse, or their partner or whatnot, right? Their home address, and their email address. And why we want these things is because we need a way to deliver our marketing tools to them, so that we become top of mind. Okay. So if you do this properly for two years in a row, on the second year, alright, the second 12 months, you stand in front of 32 buyers and sellers every year, and they transact twice. That’s a potential 64 leads, and what’s a lead somebody who wants to buy or sell a home? And who are these people from a network. They’re the people that know like, and trust me, and 85% of sellers call one real estate agent as coordinator of realtors. I just want to be that one, right. And then in future coaching sessions, we’ll work on skill set, so that when I am in competition, I’m going to blow the person away, because most people aren’t going to take time to work on their craft. But if you get in front of me, I’m going to have everything in line date, show you and articulate to you my value. Does that make sense? Now here’s another cool thing. So 16% of your network transacts every year so I’m going twice. But everybody in your network on average knows for people

D.J. Paris 39:52
who want to let me pause for just one second I want to make I want to make sure we really hammer this point. What Ryan just basically said is Do you know 200 people, we know that everybody knows approximately 200 people every year 16% or 32, or 64 transactions, because some of them will transact twice. That is how many transactions are in the people that know you the best, and who are obviously most likely to use you. They are also likely to forget that you’re a real estate agent. If you are not staying in constant communication. We’re talking about developing a strategy to stay keep, you know, front of mind. So you become their Nike or their McDonald’s. But that is how many transactions are have. I mean, I would think most people listening if they could do 32 to 64 transactions from their existing network a year would be very, very happy. So I just want to make that point. That is a huge, huge thing Ryan just said,

Ryan D’Aprile 40:46
You are sitting on a goldmine. Most people are not mining or gold mined, and they’re going after other people’s gold. Nice, and it doesn’t make sense. And that’s the thing that I love about this business, too. Is there’s more than enough for everybody. There really is. I mean, how many people at cash? I really don’t really answer this DJ. But how many people live in the United States? Is that 303 50

D.J. Paris 41:06
Millions living?

Ryan D’Aprile 41:10
Okay, 350 million people. Okay, fine. Do you know how many Realtors there are in the national?

D.J. Paris 41:14
Many there are in Chicago and the suburbs? Because just a few hours ago, I did a huge dump. Of all of the realtors there are just under 40,000 In Chicago, including the suburbs alone. So 40,000 just here locally.

Ryan D’Aprile 41:30
All right, yeah. But your calculator out by chance. Cool. All right. So there’s 1.5 million real estate agents. In North America. There’s 350 million people. Now, can you do the math divide? 1.5 million divided by 350 million?

D.J. Paris 41:50
See? 233.

Ryan D’Aprile 41:56
So yeah, one and a half million divided by 300? million.

D.J. Paris 42:04
Let’s see. That is point 004.

Ryan D’Aprile 42:09
Yeah, percent. I hear so many real estate agency to me, there’s so many agents and less than

D.J. Paris 42:16
less than half of 1%.

Ryan D’Aprile 42:20
There is so much for everybody. But the thing is, when I hear people I saved myself, oh. And I said, I’ll say this, I think it, you poor thing. You got a negative mindset. Because I look at you and you’re incredibly powerful. You just don’t see it. Yeah, I think that’s my job in bringing that out of real estate agents, but you understand how powerful you are, you have got a wonderful personality, whether you realize it or not, there are people that like you, it’s called your network, you just got to be in front of them and create relationships with them, you got to go into this business, understand that your passion is about meeting people and learning and helping people, everything else will fall into place. If you do those things, there’s four tenths of 1% of the population.

D.J. Paris 43:04
And what’s funny is I did the calculation backwards. But it actually illustrated an interesting point. Because what it’s saying is, for every 233 people out there, there’s one real estate agent, which by the way, corresponds to Ryan’s, you know, 200 people. So really, there is so much business to go around, because there’s only one realtor for every 233 people.

Ryan D’Aprile 43:25
Regardless of the market, you’re talking to person, right, and I’m just I guess I’m talking myself in the third person here. But this is weird. But you, you know, I grew my business, I was a real estate agent in the Great Recession. 2008 910. Those are great years. For me, it was terrible to see what people went through. So don’t get me wrong. But as a real estate agent, I was crushing it. But I did do something in 2007, by the way in summer, 2007 and 2008. And what I did is I stopped watching the news. Now the problem with that is I’m probably the most ignorant guy you’ll ever meet. I’m not into politics anymore. I’m not very familiar what’s going on. And I’m not telling the listeners, you have to do what I’m doing. I’m a little bit of an extreme. But I’m a very sensitive person. And I understand my subconscious mind has an effect in my life. I’m living the life of my dreams. Not everything’s perfect, but I’m having a blast, okay. But I can get very depressed. If I hear about a drive by shooting, I have wobble, I can’t take it. And if I become numb, it doesn’t mean it’s not having an effect on me. It’s affecting my subconscious mind. But let me get off that I’m a freak about mindset. So let me get off that for a second. Let’s come back. Let’s come back to the 1.5 million real estate agents North America out of 350 people that live in North America. And the people that say well, you know, there’s so many real estate agents there’s not. And on top of that, of the 1.5 million real estate agents in North America, half 50% Don’t sell I mean,

D.J. Paris 44:51
it’s probably even bigger than that are part time like you were saying, you know whether they’re part time or full time so maybe even maybe half of those are even full time agents. Maybe

Ryan D’Aprile 45:02
Don’t sell a home, right and transact. Now you’re at 750,000 agents that are actually in it to win it. So there isn’t any competition except for yourself. There really isn’t. And there’s more than enough to go out. But what you have to do is you got to control the controllables. And that’s yourself. And that is your campaign. And that’s your marketing campaign, to these individuals. So that when you say Naima, hammer, drank and say McDonald’s and throw Pepsi, coke, name a gym shoe, they say Nike name, a realtor, they say, DJ, that’s your job. And once we perfect that, and we got that down, then let’s start looking at the other strategies, which we’ll talk about in later sessions. They’re phenomenal, right, and they complement your business. But let’s build on a foundation first. And the foundation is your network. Because your network is your what TJ

D.J. Paris 45:53
is your, that’s your

Ryan D’Aprile 45:57
I never said this to you before your network is your net worth. And that’s what I want to teach my three daughters, and anybody who comes in front of me when I’m going to work with them on real estate, your network is your net worth. It’s not what you know, it’s who you know, and these are all cliches for a reason, because they’re true. So let’s build a business off of those fundamentals. And let’s focus on our day to day activities, the rest will fall into place. So let’s get into the marketing campaign. Okay, and these are, we’re going about 45 minutes here, and I want to be conscious of your time, so you just don’t want to stop. Okay, so we’re gonna look at, we’re gonna look at two methods that we have to perform to become that number one real estate agent, in our networks, mine, the one is auto marketing. Okay. And honestly, this should be the easiest at our company, we do this for our agents, we did it in the beginning. And then we came to the realization, we actually are going to let our agents do the second part that I’m going to tell you about, and focus on that will handle their campaign. And the campaign is the campaign to their network, and its auto marketing. So for example, I’m going to draw two stick figures on this wall. Okay, one’s a real big stick figure with a big bubble ahead, right. And that’s your network that’s representing 200 people, or more. And then all the way to the left, want to draw a little stick figure, and that’s me, okay. And then I’m going to draw a wall, like a lunch right down the middle separating me in my network. And that line is a wall between myself and those 200 people. Do you know what that wall is called? DJ? Yes, life. Everybody has life happening to them? Right? Everybody’s dealing with something dramatic, tragic, exciting. And we are the center of our own worlds. But we’re not the center of their worlds. And we never will be we never should be. And so that wall between you and your network of life, we have to figure out how can we automatically penetrate it. While we can do things that as a real estate agent that we do, that will build trust, because people hire people that they know, like, and trust. So that is like, so remember, I got these two stick figures, right. So now I’m gonna start throwing arrows. It’s kind of a silly drawing that I’ve came up with in my coaching, but I’m throwing arrows at this wall to break through. Okay, and come number one, and my big stick figure, I draw like a little brain at top of that other person’s head, I want to become number one, in their mind share. So I’m gonna throw arrows, what’s an arrow that I’m going to throw at them? It’s a postcard. It’s every other month. Ideally, it’s

D.J. Paris 48:48
just possibly talking about postcards, because it’s so interesting, because there’s so many ways to do them. And I will tell you, I live in a condo building in River North and a building that I would think would I would be getting postcards daily with 40,000 realtors in Chicago, you would think that I would be getting constant communication, I get maybe one postcard a month from one realtor, and then I never get another postcard from them again. I certainly don’t get anything weekly or monthly from even the same person. Nobody does this and everybody should consider doing it. So I just wanted to make that point.

Ryan D’Aprile 49:24
Well, it’s called a campaign. You know, and you have to have a campaign, because none of them are foolproof. And I’m going to give you a choice. Okay, we’re you and I, you know, we’re trying to break down a wall together, okay. And we’re throwing arrows at it. You gotta throw one arrow you got postcards, one of the arrow is one arrow in your quiver. We got others we need to head. Now there’s people that say I’m going to do social media and it’s all I’m going to do you know, it’s not 2018 Ryan, you’re a dinosaur. I’m like, Well, the problem was social media. It’s great. It’s a wonderful tool, okay, and it’s free. But algorithms that are built. And there’s people that just are not on it, I mean, everybody’s on it, but they’re not on it every single day, they’re not.

D.J. Paris 50:11
Also on pages, if you have your own page, you the people who like your page, only on average will see somewhere between 20 to 40% of your posts, it averages about 30% on the current algorithm, so even people that have signed up to get your, your notices on Facebook, are only seeing about 30% of those.

Ryan D’Aprile 50:32
And that’s the biggest thing. And that’s what people have to understand. It’s like signing up is key DJ, see, let me meet me. When people decide to follow you on Instagram or Facebook, they’re deciding to follow you. So though it might be free, but to provide content. Now, I’m not telling you, you guys spend all your time worrying about the content. But I’m giving you a description of the difference of marketing tools. And what the these people are deciding to follow you only 30% of them are going to see it. But you know what? I don’t think you’ve decided to follow Coca Cola, did you? But you know what, you see them at a time. And you don’t even realize it. They McDonald’s the same with Nike. And their objective is to be number one in market share. And by the way they are. So all we’re doing is learning from the past. Okay, and taking their business practices and putting them into practice for us with our network. So a postcard is one and you have to do it.

D.J. Paris 51:26
Absolutely. You just

Ryan D’Aprile 51:28
do it. And you know, you could do it 12 times a year I think your best if you’re doing anywhere from 17.

D.J. Paris 51:33
I was real quickly I did an interview with a gentleman. I’m gonna redo it because I accidentally deleted it before it went live and he wanted to kill me. He’s a nicest guy. He works for Keller Williams in Lakeview. His name is Steven Hannah. He told me what his first year this is the best story ever. He said that he provided two assumptions. When I first started number one that my the two and he had 100 people in his database. That’s all he had. He said I assumed those 100 people were the most likely to use me as a realtor. And my second assumption is they are going to forget that I am a realtor. So because those are my two assumptions, so I had to figure out how do I not let them forget the Coca Cola example. Even though I didn’t sign up to follow Coca Cola, his tweets, how is it that I thought Coca Cola right away when Ryan asked me because of course I see them constantly at eight times a week, right? So he’s he would he did, he sent out a postcard every single week, every Friday for 52 weeks. And he said it was it was almost insane. He goes but it was so silly. He said you couldn’t forget that I was the realtor. And he said he made them funny, random, cute and everything. But he said that was he was the smartest thing you ever do. After two years. He said 60 of those 100 People use

Ryan D’Aprile 52:45
it by the way, I’ve never met him. But I’ve heard his name. And I know.

D.J. Paris 52:49
One of the top top people Absolutely.

Ryan D’Aprile 52:52
Right. So everybody, we’re here to help you. And you said, Steve right now, Right? Steve a hat now myself, we’re here to help you. And by the way, I can’t speak for Steven. But I’m not a rocket scientist. This is nothing that is like we’re not splitting the atom here. Very simple, most complicated thing is the attitude, the mindset to get over to execute these things. So the arrows, we got the postcards, we have email marketing, we have a digital campaign. And then we have a social media campaign. Like I said, we do that for our agents so they could focus on really the most important part. Okay, so we just took some time and we talked about marketing, auto marketing consistently every single month your network to capture those leads, but there’s something else you have to do. And this is the work. This is the agents business and what they have to do five days a week. And what you have to do is you have to create four quality touches, I’m talking about you reaching out and saying hello, how are you? once a quarter, four times a year, you need to send four items of value, and an annual real estate report every year to all 200 individuals. You’re talking about maybe an hours a day. If that’s it, you’re talking maybe an hour’s work a day. And if you get into it and you realize all you’re doing is making friends, like again, I’m gonna call you like DJ What’s going on man? I heard this new restaurants in River North. I know you live at such and such place. Have you been there? In our I’ve seen that haven’t been there. Alright, I’m gonna go check it out. I’ll let you know what it is. But hope all’s well man. And by the way, I haven’t seen you in three years, but I just communicated with you. And I did it via text or did it via instant message you know on Instagram or Facebook message, or maybe I called you. But check, check. Right, you’re done this first quarter. I’ll see you next quarter. Because people hire people they know like and trust. My auto marketing is done set it and forget it. Now there are people that really want to dissect their marketing and really focus on the message. That’s fine. If you have the time, I never have had the time I have my company just do it for me. And I forget about it, and it works. And where I put my time is building the relationships or

D.J. Paris 55:13
relationships. Absolutely.

Ryan D’Aprile 55:16
Yes, that’s exactly. And so, you know, the quarterly items of value are very simple. You know, they could be, you know, a beers magnet. I know, it sounds silly, and someone can be cringing out there. But it works. It’s an item of value. It could be calendar events, I’m not talking about email, I’m talking by the way, this is a physical thing. Or

D.J. Paris 55:37
it could be the fina always uses the example of the ketchup, relish and mustard, the I forget the puns you use, you guys can Google it. But but you know, it costs like $4 for all three of those, and you drop it off. And there’s a cute little pun that goes along with saying I relish your referrals. And from a broker that cuts the mustard and let’s catch up or something like that. Yeah.

Ryan D’Aprile 55:57
Right, right. So just something like that. Again, those are like, look, I will never tell you to call your clients for referral. There are those out there that completely I will say call them out. But in your direct mail, in your items of value, the dollar sneeze, it’s fine. That’s doing the sales for you. You know what I mean, you don’t have to be an acronym. It just gets it. They know what it is the respect that they grab it, and they throw it on their refrigerator, throw it in their garbage, it’s at your top of mind. The annual the annual item of value is an annual Real Estate Report. And it’s a tool that you can use, you could use RPR resources, you could use a CMA, I’m not going to get into the details of it. We can maybe in a later session, but is a beautifully bound Real Estate Report that you send to all 200 people in your network once a year, I always tell my agents the magic really happens. The second and third year they received it in a row. Because what happens is, you’re taking yourself serious, and you’re treating your business seriously. So all of a sudden, they take you serious, and you know you are we are judged all the time. And if you’re inconsistent in your marketing, and you’re inconsistent, your follow through, you’re gonna be judged. And if you’re consistent, you might be worried they’re gonna throw it away. But remember that game of life, everybody’s dealing with life, you’re not the center of the world, they’re going to see it, they’re going to throw it away, don’t worry about it, it works. It’s that it’s magic. And they’re not going to sit around and ridicule you all day long. Because so many people are afraid about selling out marketing Stop, stop thinking about it. It’s a narrow second front of these people’s eyes. But it will consistently for two years in a row and you don’t skip a beat, you have laid a foundation, and you’ve sold your network, I take myself serious, I take my business serious. So when you’re ready to sell or buy a home, take me serious and they will and they’ll reach out to you. So it’s a process, right? All this is a process. It’s something that you have to work at day to day on the majority of your time, and not the majority, excuse me, but about an hour a day, you got to focus on those relationship touches, you should have some type of system, a dashboard, or CRM that tracks it, because tracking is just as important as doing it. And geez, I think that’s it for today.

D.J. Paris 58:24
So many good takeaways. I would say, you know, if you’re listening, and you’re a realtor, if you don’t have a strategy around what we talked about a lot of different areas, whether it’s whether it’s adding to your database, or deepening the relationships of your existing database, or just marketing to your existing database, this is the time you know, it’s the beginning of the year, you can now do that you can now say I’m not going to send out one postcard this year, I’m going to send out 12, or I’m going to send out an annual, you know a housing report. And I’m going to call at four times a year and make sure that my my database knows I care about them. And I’m going to look on Facebook to see what’s going on in their lives have something to talk about, and all of that. So it’s all amazing.

Ryan D’Aprile 59:10
And if you don’t think in your neighborhood, in your network, your friends that are financial planners, your friends that are accountants, your friends that are doctors, they’re not doing this. Right, you have to do it. Your customer, your client, because of the profession you chose is your network. So let’s mark it to them.

D.J. Paris 59:29
Awesome. I love it. Well, I think that is a perfect place to pause. As as always if you’re listening and you say boy, I want to you know work at a firm like Ryan’s do pro properties.com You can learn all more about what they offer brokers also if you might be a buyer or seller, renter yourself and you might be interested in working with one of Ryan’s team. These are the kinds of trainings that his team goes through. And obviously he has a lot of great success with his with his brokers to back it up so you can reach out to him directly as well. Just visit deepl properties.com You can find them on social media, Facebook, Instagram, etc. Anything else? Right?

Ryan D’Aprile 1:00:07
No, that’s it, DJ, thanks for having me, man, I really enjoy these. Well, I

D.J. Paris 1:00:10
know the audience shifts as well. And one last point, if you are listening and you say, Oh, I wish Ryan would have gone into more detail on x, y, or z or I wish, I have a question for him, I want him to go over this in the future. Send us your comments and questions. We always love the compliments, but we love questions even more. So send those to us. You can can find us at keeping it real pod.com We have a contact form there on Facebook keeping it real pod, you can send us a message there too. And let Ryan let us know what you’d like Ryan to talk about or go over and we will answer your questions in future episodes. So on behalf of Ryan and myself, I thank you for listening, please, as Ryan would probably suggest to everyone listening, tell a friend if you have other realtors that are in your office. We do this Ryan does this I do this. We do not make a living doing this. We do this to legitimately help the 40,000 Realtors here locally and across the country. Many more than that, so please tell

Ryan D’Aprile 1:01:11
TJ the question that we all decided we

D.J. Paris 1:01:13
love so definitely pass the word we we appreciate it and on behalf of Ryan and myself we say thank you for listening, and we will see everyone on the next episode and Thank you Ryan.

Welcome to the February edition of Monday Market Minute with Carrie McCormick!

In this episode Carrie discusses how the market slowed last year, but that in 2019 we’re starting to see some increases in activity. With rates being down, Carrie is noticing her buyers are poised to purchase and provides a tip on how to prep them now with a sample contract. I also talk about contacting past clients to discuss the possibility of a refinance.

Carrie can be reached at carrie@atproperties.com or by phone at 312.961.4612.

Carrie McCormick D.J. Paris Monday Market Minute

Carrie McCormick Logo

Transcript

D.J. Paris 0:15
Hello and welcome to another episode of Keeping it real the only podcasts made by Chicago real estate agents for Chicago real estate agents. This is our monthly series called them the Monday market minute with Carrie McCormick. If you are a new listener and haven’t listened to one of our Monday market minutes before Carrie is a top producer without properties for over 20 years has been a top producer. Last year she finished in the top 15 of all realtors in Chicago and that’s out of 40,000 Realtors. So we are so honored, she comes on once a month and tells our listeners what they need to know about what is happening in the Chicago real estate market. And also, before I bring carry on, everyone should follow Carrie on Instagram, just do a search for Carrie McCormack real estate. That’s the thing, you can also find her on Facebook as well Carrie McCormick real estate, and welcome to the show. Carrie,

Carrie McCormick 1:06
thank you, thank you Happy 2019

D.J. Paris 1:10
Happy 2019.

Carrie McCormick 1:12
So just to get started, the one thing that people have been focused on is interest rates. And with the Fed holding off on further interest rate increases, we see that this year is starting off very good. So we’ve seen a lot of activity in the market. All of us that have been in the market for a while we know that q2 was kind of flat. So last year of 2018. Really after, I’m gonna say like July, the rest of the year was just flat. And the reason going back and looking at that, you know, interest rates were increasing, taxes were increasing, there’s a lot of talk about increasing taxes. And you know, the second bill came out and people were worried about that. And actually, the wage growth wasn’t as favorable either. And it just created this affordability issue. And people I think were just hesitant about buying. People were out looking, but they weren’t actually pulling the trigger and buying. So I do still think that housing affordability is going to be an important storyline this year. But we are definitely seeing buyers starting to get out into the market. And they’re getting motivated to buy, which is great. So also, one thing to look at is last year in 2018. Because of the interest rates and taxes, a lot of people have just decided to rent. Right? So now we’re seeing an uptick in the rental rates just because of the whole supply and demand factor. So rental rates are starting to tick up this year, which now those renters are saying like, why would I rent or pay more in rent, now let’s go by, right, because interest rates are going down. So again, looking just at the economics of the market, we’re gonna see a shift this year. But we’re going to be tied to those lease months, because, you know, obviously the spring, like April and May are big lease months, so those leases will end then and we’re gonna see buyers enter the market at that point as well. So I am happy to report though, I’m starting to see multiple offers start to happen. We’re seeing high traffic counts at open houses. I do work all of my open houses. And this past weekend, I had 22 People in WoW, one of my open houses. It was energetic, it was exciting. And I woke up the next morning with three offers in hand. So you know, again, the excitement’s there, as long as you price and position the property correctly, you’re going to start getting activity in offers on those. But for now, inventory still remains low. However, in the next few weeks, I do expect that to change quickly. So my suggestion to the brokers out there is if you are working with buyers, prep them now, one thing that I started to do, which is just a little tip, is I started going through the contract already and sending them a sample contract with you know their information on it and reading through it. So just so they know what to expect. We have a new 7.0 contract that is out, right, a little different language, so I’m walking them through it. So when we do make an offer, they they’ve already read the contract, they know where I’m putting information in and they’re ready to go. And lastly, everyone knows get your pre approvals letter ready for it from your lender. So make sure you’ve got that in hand. So your offers ready to go. You’ve got your pre approval, and you can make your offer.

D.J. Paris 4:41
Now is there a preferred lender or do you have a lender that you prefer to work with?

Carrie McCormick 4:46
Of course I do. And hopefully they’re listening and they know who they are. You know, I’ve been doing this for 20 years, and I’ve learned a lot over the last couple of years and one thing that I would say is important is to surround yourself Have with pros, I always say like pros use pros, I’ve met some of the most incredible service partners and vendors. And I’ve created what I call my little white book, not black book, but little white, maybe it should be my little white black book of providers that I have for either whether it’s inspections, it’s mortgage lenders, of course, it’s handyman, it’s plumbers, it’s, you know, everything that you possibly could need. Wallpaper hangers, I’ve got, you know, people for blinds and carpet, everything, I’ve got the best of the best, I think, team around me, and that adds value to my clients. So they, I can hand that over to them. And even like I said, designer, so if I, if I know that I can refer my clients to these people I know they’re being taken care of, and it’s an extension of my service. And you know what I stand for my, in my job?

D.J. Paris 5:58
Yeah, that’s not so important. And I know also to some of these vendors, for the listeners who are brokers can also be your partners, when it comes to advertising, some of them can partner up. And they can do all sorts of different advertising, whether it’s postcards or mailers, or even other digital marketing as well. So don’t be afraid to reach out and say, Hey, I’m thinking about doing this marketing initiative. And can you help out with that, and we’ll co brand it together, it’s very common. Great idea. And so I have a quick idea of to piggyback on what Carrie mentioned, with respect to lending rates and pre approvals, and the buyer market starting to pick up. So because rates have dropped, and I don’t know how much longer that will happen, because I don’t have obviously a crystal ball, or the expertise to know but for right now, they are pretty low and they have dropped. So a couple opportunities for brokers, obviously, anyone who’s renting you can reach out to them and, you know, talk to them about making the transition to purchasing a home or, and maybe even a better idea or not, not a better but certainly as good of an idea as contact everyone you’ve already worked with, or anyone you know, that owns a home and say, Hey, I don’t know if you’ve been checking the news, but rates seem to be down. I don’t know if it makes sense for you or not to refinance, but I just thought I’d put that bug in your ear. And you should reach out to your lender or I can provide a lender if you don’t have a good one that you want to check rates with. And I can tell you as a homeowner, myself, that lender has never ever called me to say, hey, it’s a good time to refinance. So no, but the only way I ever knew to refinance is I saw like a new story on it before I got into this business. And I went, Oh, maybe I should look into that nobody ever called me. So I think it’d be a great opportunity just to keep your name in front of your clients and provide value. And, you know, it doesn’t mean they have to refinance, but it’s just you’re providing value by letting them know it might be a good opportunity. So that was my little tip.

Carrie McCormick 7:51
It is important. Yeah, I mean, always providing value to your clients is important in whatever fashion it is. So love it. Love that tip. Anytime

D.J. Paris 7:59
you can have a good reason to contact a client and not say, hey, I need more business. Can you refer your friends to me, which I think is a very hard thing to say and not something I would be comfortable saying but when you can actually say hey, I was thinking about you. And rates are down, you may want to look into refinancing seems like a great way a great reason to pick up the phone and call somebody. So all right. Well, I think that does it for this episode of the money market minute. Please send us your questions. So you can do that via Facebook. You can find us at keeping it real pod, also our website keeping it real pod.com. Send us your questions for Kerry. Any questions you would like her to ask we’ll have on a future episode in a month. And also follow us on Facebook and and follow Carrie on Instagram, Carrie McCormack real estate. And Carrie, what’s the if there are any buyers or sellers, renters investors? Anyone out there that is looking for a broker to work with? How should they reach out to you?

Carrie McCormick 8:57
Oh, thank you. Yes, absolutely. The best way to reach me is just to call me 312-961-4612. And if you prefer email, it’s Carrie at@properties.com.

D.J. Paris 9:10
Awesome. Well, thank you so much. Thank you to the listeners, if every listener could think of one person that they feel could benefit from hearing these kinds of podcasts, forward this over to them, we would appreciate it. Our numbers keep going up. Because of you guys telling every other people because we don’t spend even $1 in advertising. So we’re very grateful to everyone who’s listening and we’re grateful to people like Carrie who come on the show every month. So on behalf of Carrie and myself, we thank you for listening and we will see you next time. Thanks Carrie. Thank you

Michael Hall finished 2018 as Baird and Warner’s second highest producing broker in Chicago and also placed in the top 50 of brokers in Chicago (this is out of 40k brokers!). As a top agent for twenty-four years, Michael talks about how open houses started his career, how listing presentations are like dating, why he encourages brokers to spend 50% of their time searching for new clients, and why he knows that you can grow your business in any type of market with the right attitude.

Michael Hall can be reached at 773.398.4359 and michaelhall@michaelhallgroup.com.

michael hall group logo

Transcript

D.J. Paris 0:14
Hello, and welcome to another episode of Keeping it real. The only podcast made by Chicago real estate brokers for Chicago real estate brokers. My name is DJ Parris, I am your host, and guide through the show. And as always, we start out the show by saying thank you, to the listeners, we have, Gosh, 1000s of you now. And the only reason we have 1000s of listeners is because well, I’d like to think it’s because the content is so amazing. And I believe it is not because of me, but because of our guests, but also because you share this podcast with other realtors, so that we spend no money on marketing. So we’re really appreciative that you have sent this out and made this a popular thing. And I think we’re probably still the only podcast in Chicago that has these kinds of conversations. If you’re new to the show, what we do is talk to top 1% producers and ask them how they became successful. We believe success leaves clues and we’re 80 Plus episodes in now and we continue to keep going so we appreciate everyone’s listening and also passing this along you can download and listen and stream every single episode we have on our website keeping it real pod.com Obviously you can find us as well iTunes, Google Play and please subscribe to our Facebook page, keeping it real pod where we post links to every episode and also links to our guests information as well. On to our interview with Michael Hall.

Today on the show, we have Michael Hall from Baird and Warner Michaels client centered approach to real estate has led him to concert consistently outpaced the market in 2018. Michael finished in the top 50 of Agents Brokers in Chicago, she has a very big deal by the way on pausing his his bio from over there’s a 40,000 realtors in the Chicagoland area Michael finished in the top 50 last year, and he’s also second in the city at his firm Baird and Warner for sales volume and units. Originally a teacher, Michael’s philosophy is to provide each and every client with an unprecedented level of service, best resources in the industry and the benefit of expertise that results for 24 years as a top real estate consultant and broker, a true student of real estate Michael is constantly looking for innovative ways to improve his business and help his clients reap more. In 2014, he founded the Michael Hall group at Baird and Warner to better serve his buyers and sellers and foster synergy among fellow colleagues, the results have created raving fans and Business Growth far outpacing the market at large. And we could not be more excited to talk to Michael Hall. So welcome, Michael.

Michael Hall 3:03
Thank you. Thank you for having me.

D.J. Paris 3:05
Well, thank you for being on the show. And I say this a lot because we we only interviewed top producers, but we know you don’t have time to do this. And the fact that you’ve made time for us is really, really we couldn’t be more appreciative. So and on behalf of the listeners, thanks for being on the show.

Michael Hall 3:20
You’re welcome.

D.J. Paris 3:21
Well, you know, you boy have had a very impressive career here in Chicago. Everybody knows you. I would like to know about how you got into real estate, you know, 24 years ago? And can you do you mind telling us that story?

Michael Hall 3:33
Sure, absolutely. So I actually was working on a PhD in Spanish literature, and was on track to become a professor, when I decided to take a year off and reevaluate, if that was really the career that I wanted. And in that year off, I started a business venture, which did quite well. And I had, within a year’s time I had two locations working on a third. Wow. And I thought, well, you know, heavy money’s kind of good. And I’m pretty good at this business stuff. I don’t know, maybe I don’t want to be a teacher. So I came to Illinois to speak with my grandfather, who he’s now passed away, but he was the smartest person I knew. And he had been involved in commercial real estate large projects, and was just the smartest man I’ve ever known. And I said, you know, well, I don’t know, I guess I should finish up my PhD. And he said, No, don’t do that. And I said, why, you know, I’m thinking Why doesn’t he want his grandson to get a PhD? So because you have very expensive tastes young man, you’ll never be happy on a teacher’s salary. And then he added and let me tell you something about rich people. He said rich people own things. They own businesses, they own property, but they don’t work for someone else. My grandfather had never worked for anybody in his life. He was endure or so. He felt very strongly that I was would be a great sale. This person, he said, You need to get into real estate, you will be a great salesperson. He said, get into real estate start selling and start buying. And, you know, it was just like, wow, I never thought about that. I’d been so scholastically devoted my whole life that it was just came out of nowhere. And somehow, I took a leap of faith. And that’s what I did. I got my license a few months later. And by the third year, I was number one in my office and you know, just kind of catapulted to where I am today, after 24 years. Wow,

D.J. Paris 5:34
what do you think you did in your first year? I don’t mean production wise, or number of clients. But how did you? What did you do day one? I know it’s hard probably to remember. But what did you do in your first year? As far as how building your business?

Michael Hall 5:49
Well, the first thing that I did, I as a salesperson, I mean, I really, that’s really what I am, I, I decided right away that the best thing to do to have sales was to be in front of somebody to sell them something. If you’re not in front of somebody who might buy your product, well, you’re probably not going to sell very much of your product. So I devoted every single day to connecting to humans, who might be buying or selling real estate. And it was a little easier to do that when I first started because there was no internet. And I started Sure. So you know, people got the Saturday paper, little black and white photo, every picture looked the same. And they had to go to the Sunday open house to see it. So I open house like crazy. I had I didn’t have listings, because I was a brand new agent in my 20s. So I held open houses on other agents listings. And I just met people and connected and conversed and talked. And before long, you know, they had assisted me as their buyer’s agent to help them find properties.

D.J. Paris 6:57
Yeah, it’s funny that the doing open houses when you don’t have your own listings still seems to work today. And a lot of the people we’ve interviewed on the show even new mortgage brokers who have been more recently introduced to the business, that’s almost a universal experience. Unless, of course, you just happen to have you know, dozens of friends waiting to buy and sell condos, right when you get your license, which isn’t usually the case for most people. So the fact that you were doing open houses, it still seems to work. And so yeah, that’s very, very, very interesting. Tell us a little bit about how you how your business has grown over the last 24 years?

Michael Hall 7:38
Well, it’s, it’s been for the most part, organic, you know, hard work, you know, people always want to know, when you when you hear Realtors discussing other top agents, everybody’s like, what’s their secret, right, you know, what’s their secret? You know, what’s the ancient secret, and there really is no secret, you know, good business is one small idea after another that you implement. You don’t just come up with the idea, you actually execute it. And it’s one tiny little idea, one followed by another. So basically, you get one to 3% better every single year. So you’ve been in the business for 10 years, you’re 100% better at what you do. And your business. So part of it is just, you know, smart, organic growth. But I did have a phase where I catapulted and that was when I the time I think I was selling like around $12 million $13 million a year. Sure. And feeling kind of stressed out. And I had, you know, marketing prospecting programs that I had going, I was working, cancelled and expired. Sure I was when I would sell a property, I would send out a just sold to the neighborhood, saying, you know, I just sold your neighbor’s Sure, call me. And so but what happened is, I get slow, and I prospect, and then I would get busy again, and I wouldn’t prosper. Right. And so I realized that if I wanted to grow, I had to keep the prospecting going. And so I had to really dedicate a chunk of time in my day, when that took place. The next thing I knew, I was like, 9pm at the office, printing out flyers, stuffing envelopes, you know, getting to the office early, and then I decided to hire someone to help me because I realized, well, if this is profitable, why don’t I just double what I’m doing and then that will pay for this the salary of this person that does this and executes it for me. So that was a big leap of of for my business was to actually bring in somebody to make sure that the prospecting occurred every single day with regularity.

D.J. Paris 9:53
Yeah, that makes all the sense in the world and certainly easy for a broker once they get busy with having CLI As where they’re spending, you know, maybe seven of if you’re working an eight hour day, which I know you’ve probably worked much longer than that. But if you’re spending, you might be spending six to seven hours a day servicing existing clients and not, you know, then just the outbound marketing meeting, new people might fall by the wayside. So hiring somebody for you seems like that, that worked really well, to enable you to continually serve your clients and also keep the prospect up.

Michael Hall 10:28
It did, the only problem is that it worked too well. And within, within two years, I was on, you know, the verge of a nervous breakdown. Because, you know, we couldn’t keep up. So then I hired instead of, you know, I had my part time person that ran the prospecting, which for me, was primarily male, and some online stuff. And then I ended up hiring a licensed agent who came out and helped me do the showings. And ultimately, you know, I decided that, you know, I’m gonna, I think I could provide better service if I had other people doing the things that I’m really bad at. And that’s the I think that’s the key for all business owners, you have to look at what you’re good at and do that and what you’re bad at, have somebody else do. So on the nightmare with paperwork, I hired someone to do the paperwork, I wasn’t good at following up on the prospecting, I hired somebody for that the next. So you just sort of decide what you should parcel off and have other people do and as you do that, it creates more time for you to do what you’re really good at. And then if you focus all your energies on the things you’re really good at, you will grow your business, it will happen. And that’s what happened to me. So my team went from a person and a half, to two and a half to three and a half to now it’s four and a half people. Wow. Not including me. So I’m, I’m the extra person,

D.J. Paris 11:52
you’re the half of its, you know, and for a lot of our listeners to who think, Well, I’m not a top producer, I can’t afford to bring on someone else. I think I would challenge that because there are things thankfully due to our interconnectivity with the world, there are lots of people that you can hire who aren’t even necessarily local, maybe global. For example, I have a person I hire for $10 a week. And what she does is she calls me every morning at 730. In the morning, she’s from the Philippines. And she asks me did you do there’s some habits, I’m trying to cultivate healthy habits in my life. And she the about 10 questions, she asks me every morning did you do you know, she just goes down the list. It’s a 92nd phone call. And it has made a tremendous difference in my life, because it gets me to actually follow through on some of these things. But it only cost me $10 a week, and it’s the best $10 I spend. So if anyone’s listening, there are resources to find, you know, maybe it’s on a smaller scale, but you can find help, especially for you know, for very specific tasks.

Michael Hall 12:55
You can and the you, you’ll reap that reward. If you’re smart with the investment, you’ll reap that reward in the same year. So it’s, you know, it’s not like, you know, I think people feel like they can’t afford it. But I would argue you can’t not You can’t not afford it. Because for every dollar you put in, you’re going to make more than what you put in, if you do it wisely. So my recommendation is to look at what a look at what’s working for other agents and to mimic that. And that’s kind of what I did, I looked at well, who’s who’s big, who’s doing a lot, oh, that person is doing expireds and cancelled. So that person is, you know, doing video online, blogging, so you see what other people are doing. And then you start to do the same things and you find, you know, what’s a good match for you and your personality?

D.J. Paris 13:39
I agree. And I also think that brokers often forget that top producers are also at least the ones that that we’ve reached out to, for example, people like Michael, who so generously is here. They don’t really have time, but they make time because they tend to be willing to share, hey, here’s what I’ve done. As Michael said, there really aren’t any secrets, or if there are, no one has yet shared any real secrets with me on this podcast. But I don’t I don’t know that there aren’t secrets, like Michael said. But it’s funny every time we do a podcast every month with Carrie McCormick from App properties, and she comes on and says, Here’s what brokers need to know about what’s going on in the market. It’s very generous of her. And she says every single time she does an episode, she gets about four or five brokers who call her say, Hey, I heard you on the podcast. Do you have a few minutes to give me some advice? And she very generously does that. But I find that you know that people like like Michael are actually pretty approachable. Certainly we reached out and he was he was very agreeable to come up. But yeah, you can learn so much. I mean, the whole purpose of this podcast is to collect these great ideas so other brokers can learn. But yeah, I think that is really couldn’t be overstated. Like learn from people, they say stand on the shoulders of giants, find out what they did and and move forward and don’t try to reinvent the wheel. But let’s talk about the client experience because obviously, you it’s not just a matter of prospecting, obviously, your clients are really, really like your service. Can we talk a little bit more about why you think clients gravitate towards you, and why you think your business business has grown so much over the years?

Michael Hall 15:21
Well, I think, you know, I say this all the time to buy, you know, when I’m training other agents and helping them I say, you know, look, it’s like a date, the first time you meet a buyer, it’s a date, the first time you do meet someone to do a listing presentation on their home, it’s a day, it is mostly really about chemistry between personality types. And so I think that when I’m in front of a buyer in front of a seller, I try to treat them like they’re my best friend from college, I’m thinking, What would this and I say, What do you want to talk about? What what are you looking for? I mean, ask a lot of questions. And I think that if you listen more than you speak, you’ll be able to connect with somebody. And it’s really all about the connection. And sometimes you don’t have chemistry, and they end up with another realtor. And that’s okay. There’s a lot of people, there’s a lot of realtors, and we’re not all matches. But I think beyond that there are people do also focus on the differences between realtors that they are considering working with Sure. And you know, for me those differentiators, I think, are well, first we’re very down to earth, very approachable. And we, you know, we really try to, you know, make it a pleasant serene experience for them. But beyond that 24 years of experience, I know, I always ask people, How did you pick me? And they a lot of times will say, Well, you’ve got a lot of experience? Or they’ll say, Oh, your reviews online, right. So I think for me, it’s mainly because I’m getting old 24 years and having lots of sales in the neighborhood. That’s one reason I also keep my stats, I think every agent should be keeping track of their days on the market, their listing sale price ratio, see how it compares to the neighborhood at large. That is part of my listing presentation. And a lot of people have said, we picked you because you talked about things that other realtors did not. And if you and then of course, as you do this when you do it well, a majority of my business comes from repeat clients from referrals. And as a result, we have a lot of great reviews which we would not have if I did not have such an amazing team behind me.

D.J. Paris 17:23
Do you just just for my own curiosity? As far as from a review perspective? Are you asking clients after a transaction? Or maybe even before the end of the transaction? Are you proactively saying, hey, we’d really appreciate it if you would write a review of your experience, or do you just let that happen on its own?

Michael Hall 17:42
absolutely, positively 100%? We asked. Yeah, I assume you that. Yeah. Yeah. And you know, for us. I mean, sometimes we asked why Sure. Well, because sometimes we’ll ask and we know that we did a great job. We know they loved us, and we think they’re probably Yeah, so we sometimes we don’t get the review the first time. But we’ll ask one more time. We don’t usually ask for more than more than two times. But yes, you should be asking every client for review, unless you don’t pick it up.

D.J. Paris 18:14
I had this experience recently, where I went into two unrelated real estate just walked in for I was getting a storage unit and I for like 35 bucks a month. It was very, it wasn’t even one of their more expensive units at a small thing, but I just needed for half a year. And you would have thought that I made their entire sales quota the way they treated me like that I was a big deal. And I know I wasn’t. And it was it was so over the top in a good way and really went on to make me feel like I was this special client of theirs. And and then at the end of it, they after I was paying and signing everything they said would you it look, please if you would write us a review, that would be the nicest, thank you. Because I was saying, Well, you guys really treated me well. He said, Well, gosh, you should really write us view. And then I got back to my desk and I forgot about it because I you know, like you were saying people get busy. They sent me an email the next day and said, Hey, I don’t mean to bug you. But boy, we would love it if you could share your experience. And I was like, Oh my gosh, I can’t believe I forgot. And I went on and and then I wrote it on Facebook, Yahoo or sorry, Facebook, Google, I think even in Yelp. So I did three different reviews for literally a $30 a month service because I went I’ve never been treated so well. So I think you’re asking for it is is a very good idea. Because yeah, people are busy.

Michael Hall 19:33
People just get busy. Absolutely. They’re usually happy to do it. They just get busy. So yep.

D.J. Paris 19:38
And you know, we have 1000s of listeners now which I’m very grateful for as well because it’s a lot of fun to do these when people listen. One of the biggest questions we get from from our listeners is, hey, I would like to be a top producer. And again, I know there are no secrets or no magic formulas, and hard work is always the real answer. Are there any specific techniques or strategies that you would recommend maybe somebody who’s brand new, or somebody who’s just looking to grow anything that you think would be helpful for the listeners?

Michael Hall 20:10
Absolutely. I mean, look, when you first start, you don’t have any clients, right? So 100% of every working hour should be promising. And, really, I tell this to all of the agents that I train, I want you to spend at least 50% of your day, prospecting for new clients getting out in front of people, your marketing systems now are fairly automatic, right, it leaves a lot of time for you to grow your business. And even if you’re out with buyers, you know, you’re not showing eight hours a day with buyers. So you’ve got a lot of time, and you need to spend, I find that newer agents are most of the time not spending a lot of time prospecting. And so every day that you do not get in front of potential new clients, whether that’s face to face, online social media, or you get in front of them by sending a piece of mail is another day that you will not get a paycheck. And I know there’s a lot of agents out there who today maybe didn’t do any prospecting. And so it’s you have to, you really have to spend at least 50% of your time on prospecting. And once you say, and if you say to me, I’m too busy to spend 50% of my time on prospecting, then my answer is, you’re making enough money to pay somebody else to spend 50% of your time on prospecting, if you really want to have growth. And I think that the the last thing that I would say, is, don’t give up. So many of the new agents, they do something for two months or three months, you know, maybe they try open houses, and they do it for three months, and they don’t get a sale. And they say, Oh, I’m just not good at Open House. And and they give up my I’m telling you, it takes time. These are seeds that you plant, and they take time. And the last thing that I that last bit of advice I would give and this is good for everybody. And honestly, if I had applied this to my own business, I would be retired and filthy rich now, instead of here talking with you, although I’m happy, I’m here talking with you. And that is do not let perfect get in the way of progress. And I tell my clients this all the time, because are my team this all the time, because I did for years, I was such a, you know, type a I’m a very type a detail oriented person. And so I wanted to maintain control of every aspect of my business. So even though I really needed help, I thought no, I can give better business. By doing everything myself. And I when I had new ideas, I didn’t really execute them because I worked on them for months, right? And never felt they were perfect. And now we launch we take a reasonable amount of time when we have an idea, but then we launch it and you tweak it as you go. And I find a lot of new agents. I see them in the office, they’re sitting at a desk all the time. And I see they’re working on their listing presentation, but they work on it for like weeks. So just don’t let perfect get in the way of progress. It’s about reaching out. It’s about connecting. It’s about you know, being a human helping another human with something they need. In the end. That’s really all real estate is it’s really all sales is is its people, people who need things, people who give them things. So it’s really about people. Don’t worry too much about your forms. Don’t worry too much about your listing presentation. I remember when I felt about four years ago, I felt like my listing presentation wasn’t that great. And I was wasn’t sure what I was going to do. And I met with Milly Rosenbloom, who everybody knows. She’s the number one agent at Warner. And I went out to lunch with Millie and Milly, Milly took my listing presentation. I wanted her to look at it. And she said it on the side and she said, listing presentation she said they just want to talk to you. She said sometimes I don’t even open it. She said just ask them what they want. Tell them what you do have a conversation, make a connection. And it was awesome. Because all of a sudden, I let go of the anxiety of my listing presentation not being perfect. And I realized it was about connecting with the people. So you know, you should have a good listing presentation, you should tweak it. But I have definitely beat out other realtors who I’m sure had better listing presentations. You know, but that’s because I didn’t let that perfecting get in the way of connecting with the people. So just don’t let perfection get in the way of progress. Yeah,

D.J. Paris 24:27
and I think that can manifest in particular for newer brokers. The biggest fear I hear from brand newly licensed brokers is, you know, with respect to going out and connecting face to face meeting people every day, as you as you recommend it. The big question or the fear, I believe is what if they asked me something and I don’t know the answer, and I go, Well, of course you’re not going to know the answer. You’re brand new and it’s okay. All you have to say is that is an amazing question. Let me double check with my team so I can get you the best possible answer. I’ll get right back to you. Right and 99 1% of the time that is a good enough, at least immediate response, and then go back and get the answer. And like, don’t worry about knowing everything because you won’t. But don’t let that stop you from going out and meeting people. I mean, if I say, I don’t know, and I’m not a Producing Realtor, but in my own business, I say, I don’t know all the time. And I’ve been doing this quite a while. So I think this idea of, of knowing everything, or having everything perfected is really just going to get to stop you in your tracks, like, like Michael, Michael said. But yeah, I hear that a lot from from new brokers who are just worried that there’s someone’s going to ask a question that they don’t know. It’s like, that’s okay.

Michael Hall 25:39
Yeah. People don’t care if you know everything. They care if you’re honest. And you can get them the answers they seek.

D.J. Paris 25:47
Right? And yeah, and yeah, and hopefully, everyone listening works at a firm where they can get of course, those answers. And if you don’t, you deserve to work at a firm that does provide good support, because for new brokers, obviously, that’s the biggest thing they need is answers to questions from their clients. Obviously, a firm like Baird, and Warner is going to be able to provide that. What one other thing I want to Oh, I wanted to ask this because I normally never get to this question. We always ask every guest ahead of time, tell us this, the answer this question. I never get to it. But I thought this one was interesting. And I would like to get to it about you had a a you. I know you’re not going to reveal the name. But you had worked with a celebrity at one point. And you had a funny story about finding them a place if you don’t mind telling that.

Michael Hall 26:36
Oh, yeah. So I, I was fortunate enough to have a client who worked at Harpo studios with Oprah Winfrey. So every once in a while the celebrities that would come in would want to, they would be interested in seeing real estate here in Chicago. And so I had the fortune of being able to take a few of these celebrities out and I had one in particular who wanted to view but she wanted to be able to jump out a window and be caught on that thing that that you see in the movies, the circle thing that the firemen Oh, sure. You know, because she said I’m terrified to fire. So she it was it was very, it was, of course a challenge to find something and she wanted to be downtown. So imagine trying to be downtown and having a view. But I want to be able to jump out a window if there’s a fire.

D.J. Paris 27:30
Did you were you able to actually find something for that person or

Michael Hall 27:35
we found something that she liked. And in the end, she did not purchase anything in Chicago? I think that you know, it was an idea that she toyed with and quite frankly, I think she was really surprised by our prices here. She thought they would be more inexpensive than they really are. And so, yeah, you know, which is a common common thing. Of course,

D.J. Paris 27:59
why that? Yeah, boy, that is funny. I wouldn’t even know how to begin to answer a question like that when somebody says, Well, you know, I need to be able to, I guess that just means keep them low to the ground.

Michael Hall 28:11
Yeah, well, you know what I’m going to this is the new thing here that we we are calling ourselves matchmaker like it. So yeah, that’s our big thing. We’re releasing a new website in a couple of weeks. And we’re going with a noose new advertising marketing blitz. And we feel like we’re matchmakers. So I don’t care if you want a place that, you know, your dog has his own balcony like we’ll try to fit for you. That’s, that’s the thing, you know, because that’s if you know, once again, it’s people want things we give them. So when somebody says, I want to have a view, but I want to be able to jump out a window and live, you know what I dug in, I scratch and I found something. So it’s a big city, you can find almost everything here if you’re if you don’t give up well, and

D.J. Paris 28:57
I think to that point, you know, the client says, This is what’s important to me. And the broker says, Great, let me work on that and get back to you. Right, you didn’t have the answer right away. You went and found it. And yeah, and I think this idea of caring, which obviously you do, as evidenced by, I don’t think success is by accident. And I think that, you know, really caring and being able to say let me see what I can do is is often probably a bit understated in this industry. I think there’s a lot of brokers who don’t realize how important you know, going that extra step, the hard work portion really goes to demonstrate care. You know, it’s I care enough about you to find that dog balcony for you. And I’m going to do my best to do it. And I think a lot of brokers probably wouldn’t go that extra step.

Michael Hall 29:45
Yeah, for sure. I find a lot of brokers are sort of they have a formula. And when somebody falls outside of the formula, they’re not sure they’re interested but I would say this if you go out of your formula, and you find somebody what they want, you will have a fan for The rest of your life?

D.J. Paris 30:01
Oh, gosh, no, yeah, no question about that. And, and that, of course, you know, it’s how almost all of us find our broker through somebody we know or, or a referral from somebody we know. And we just forget just how important it is that every client is, or at least as many clients as as possible are raving fans, which means you do have to go above and beyond and obviously, Michael does that. Well, I have we I think we are getting to the end here. We’ve gone through so much, so much stuff. I did want to ask you one more question. I apologize. One last question. About About you wrote a funny experience to us about getting locked, locked into a rooftop deck. Which Imagine you are not the first person to have done that. Not first realtor for sure. Could you tell us that story?

Michael Hall 30:51
Yeah, absolutely. So it was in Ukrainian village. It was a long time ago, probably nine or 10 years ago, at least. But it was in Ukrainian village. We it was really actually a small building, like a four storey building. And I was showing the penthouse. And we went out. And I did not have the keys, they were on the kitchen counter, of course, the door swing shot, and the door handle was locked. And it was like one o’clock PM. So nobody was home. We were sort of pounding and yelling, and, and so we and of course my buyer, everybody, like the whole party was out on the deck. So it could have been a disaster. But I thought, you know, I never panic. You just can’t panic. Life’s too short to panic, unless you’re a heart surgeon. I mean, that’s the beauty of being a real estate agent, you’re not likely to have one of your clients die on you. So, you know, I just took a deep breath. And I thought, well, well, this will give us a good time to talk about what they want. Before you know. And but it was in the end, it ended up being really funny. To them. They were very nice about it. And we did talk and we really did connect in a way that we might not have otherwise, although I don’t recommend this as a technique. And you know, so eventually, we really were up there probably for almost oh my gosh, yeah, it was a long time because people were going by in the street, and we were waving and yelling, but they were either not hearing us or they were just like not sure what to do with. Yeah, yeah. And so finally somebody like it was almost 3pm. And somebody who lived in the building was walking up. And I was able to say, hey, we’re in the penthouse. It’s unlocked. If you can come let us in. And so a neighbor went into the penthouse unit and opened it up for oh,

D.J. Paris 32:31
my gosh, that’s an amazing two hours. That is a long time. Wow. Well, that what how funny and again, could happen, and probably has happened to a lot of brokers. But yeah, you’re right. What a great opportunity to get to know somebody better. And assuming assuming they’re not blaming you, which of course, I’m sure they didn’t. Yeah, you have a much more intimate relationship at that point. So

Michael Hall 32:58
absolutely. And I’ve been thinking about getting a Michael Hall group drone. So if this ever happens, again, I can call my team and they can drone over, you know, some drinks. Turn it into it.

D.J. Paris 33:11
That’s great. Well, Michael, I think that is a great place to to end and our episode here. And we really appreciate your time. There’s so much great advice, and really appreciate you telling your story with us and our listeners. And if by the way, if there are buyers, sellers, investors, renters, anyone that is in need of a realtor, or maybe they’re not happy with their current broker, you should definitely take a look at Michael Michaels, Michael and his group, you can visit Michael at Michael Hall group.com. He has a new website coming out which may or may not be done by the time this podcast was released. However, his current website looks pretty good as is I know Michael doesn’t like it because he’s a perfectionist. I think it looks pretty great. So even if this gets out before then, you know, definitely go there. You can also visit him on Facebook, Instagram, all the social networks, Michael Hall, just search for Michael Hall group, you’ll find him and you can, you know, obviously reach out to him. Oh, Michael, if there are any clients, customers out there that may be looking to work with with you or someone on your team, what’s the best way they should reach out to you?

Michael Hall 34:17
I think that if they go to our website or our social media and just send us a message there all of the formats we have out there have our phone number and a way to email us or message us. So really, it’s whatever, whatever is better for the client. Perfect.

D.J. Paris 34:35
Perfect Well, and, again, on behalf of Michael and myself that we thank everyone for listening again, if there’s other brokers in in the listeners, offices that are wanting to learn from people like Michael and want to continue to support the show that we do as a way to give back to the real estate industry that’s been very generous to me personally. Please let them know About this this podcast this episode, and follow us on Facebook you can find us at keeping it real pod, also our website keeping it real pod.com You can download and stream all of our episodes and, and all of the of course, it’s on iTunes, Google Play, etc. So anyway, Michael, thank you so much for your time again, really couldn’t have This couldn’t have gone better. We’re so, so thankful that you took time out of your very, very busy day to do this. So on behalf of Michael myself, we say thank you and we will see everyone on the next episode. So Thanks, Michael.

Michael Hall 35:30
Thank you. It was a pleasure.

Prior to becoming a top Chicago real estate broker with Compass, Josh Lipton had careers in private equity and as an attorney. When he made the switch to real estate, he earned CAR’s coveted Rookie Of The Year award, naming him the highest producing first-year broker in Chicago. Two years later he became (and remains) in the top 1% of ALL brokers in Chicago. In this episode Josh talks about why he visited college campus in his first year which resulted in 70+ rentals, how he uses Facebook lists to stay connected to clients, why he orders a pre-inspection for his sellers, and a dozen other strategies that brokers can implement today to increase production!

Josh Lipton can be reached at jl@compass.com and 312.504.5409


Transcript

D.J. Paris 0:15
Hello, and welcome to another episode of Keeping it real. The only podcast made for Chicago real estate brokers by Chicago real estate brokers. My name is DJ Paris, I am your host do the show. And this is our first interview of 2019. So Happy New Year, everyone. And we have Josh Lipton, who we’re going to be bringing on in just a few moments. Before we get to Josh, couple of quick points. We were recently listed in in a a website’s list of very best real estate podcasts. So we’re really honored and grateful to be have been included. And thank you if someone’s submitted us, and we appreciate that or however they found us. It’s great. And we do get a lot of fan emails and support from all over the country. So if you’re not in the Chicagoland area. Please keep listening because the lessons and strategies that you’re hearing from Chicago brokers can apply anywhere else that you’re practicing real estate. Also, please remember, you can always find us in every episode we’ve ever done on our website, keeping it real pod.com. Also, please like us on Facebook, we post links to every episode, as well as links to some of the items we discussed in each episode on our Facebook page. So do a search for keeping it real pod that is us as well. And remember to tell a friend, we have grown this audience spending no money on marketing only through the ears of our listeners who then are nice enough to tell other people about the show. So please continue to do that. We really greatly appreciate it. And our show continues to increase in popularity. So thank you to everyone who listens and shares and now on to our interview with Josh Lipton.

Today on the show we have compass Realtor Josh Lipton. Since entering the real estate business in 2014. Josh has quickly transcended from being named Rookie of the Year by Chicago Association of Realtors in the city of Chicago to a top 1% producer by his third year in the business. Now with almost five years experience in the industry lifted as close to 140 real estate transactions, representing more than 80 million in sales placing him in the top 1% of all agents in Chicago by Chicago Association of Realtors, and in 2018 was selected by crane cranes as one of the most influential real estate brokers in Chicago 2018 Lipton closed 40 transactions totaling nearly 27 million in sales, and finished as the number 16th top producing agent within compass and it’s 550 agents in Chicago as a licensed attorney with experience in real estate, capital markets and private equity. Josh is armed with a unique skill set has built a reputation as a resourceful agent with a vast network and ability to identify off market listings and development opportunities for his residential and commercial clients. Who are looking at both established and emerging neighborhoods throughout Chicago. Josh and his wife Jordan reside in Roscoe village where proud parents to their five month old daughter Lenny. So welcome, Josh.

Josh Lipton 3:34
Hey, thank you. Thanks so much for having me.

D.J. Paris 3:36
We should also tell listeners how we met because this is kind of a funny, a funny story. We were I might my mother was in town for business. And we met at an Italian restaurant, and I was late. And you are also not there. But my mom started chatting up your mother and your father who just happened to be sitting in the bar waiting for their table. And then I started talking to your parents. And your dad asked me what I did. And then he said, Oh, my son’s in real estate. And then you walked in a few minutes later. And then coincidentally, Josh goes, Oh, yeah, I think you guys had reached out to me to be on the podcast. And so here we are. I mean, it was just that was a really wild coincidence.

Josh Lipton 4:18
Yeah, I like I like to refer to that as a collisions of life. And coincidentally, that’s similar to how I’ve actually met some of my best clients in the stage. When you’re least expecting it just randomly. start chatting somebody up in the bar, but I guess I could tell you now DJ, yes, you were late and I was later than you. But that was actually all staged. I intentionally had my parents start talking to you. And I knew exactly who you were. They knew you. Yes. Mission accomplished. Because here we are a week later. I’m on your show. That was all set up. I’m glad you’d like to think it was coincidence, but it worked out perfectly.

D.J. Paris 4:57
So well. I will say on you and your siblings behalf because I met your brother and your sister as well. And and your brother I think flew in from California. And the reason everyone was was there was it was your mom’s birthday. Yeah. So or Yes. And it was very, it was actually very sweet. And I will tell you before you got there, she was so excited that you guys were coming to celebrate. And anyway, it was it was it was a it was actually really kind of fun to watch. And then you walked in, and then we were just talking before it and your sister and I looked at each other. And we feel like we had even met before, although we haven’t figured out how that how we had. But anyway, um, let’s talk about you. Obviously, this is really excited to have you on the show. And we had reached out even before and tell us how did you get involved in real estate? what’s your what’s your background there?

Josh Lipton 5:42
Yeah, sure. What’s coming out of college, I’ll give you the cliff notes here. Sure. I graduate from business school, downtown Bloomington, Indiana. So naturally, I followed the finance path and found myself working in banking in Chicago, for JPMorgan Chase. And then I took an opportunity in Manhattan where I was working for a company called Madison Realty capital. It’s a real estate private equity fund. That was in 2008. Things were great until come 2009. I don’t know if you’ve heard this, but the market kind of took a dip. And I have found myself out of work. And there weren’t many jobs we had at that time. So I decided to go back to law school, which was always in the cards, but I didn’t really want to do it straight out of college, I wanted to get a life experience, work experience and kind of understand why I want to do it, not just do it to prolong working. Although at the time, it seemed like a great idea. So I did just that and actually went back to Bloomington and got my law degree graduate and top of my class thinking that, you know, here I was with, with great work experience prior to law school, now I’m a lawyer, I’m gonna move back to Chicago, everybody’s gonna want to hire me to write my own ticket, start 2012 graduate law school in arguably one of the worst legal economies in the history of the profession, and couldn’t find a job in the traditional law firms. So I started calling my contacts from my previous days and banking, private equity and ended up working in a dual capacity role at Cantor Fitzgerald in Chicago in their CMBS group, where, you know, here I was half the old guy, also a lawyer, so I could I could handle third party legal diligence. So that translates into about 120 hours of work a week sitting at a desk all day, sure, man, and all the corporate nonsense that comes with it. Really having no quality of life, and dreading getting up in the morning every day. Let’s go to the office. So one day, I just got burned out sitting, sitting at my desk and one of my colleagues, it’s like, man, you’d be really good at selling residential real estate, I kind of laughed it off, because I never really thought of that. Sure. Though, I had a lot of friends in the industry. Who did and I constantly be sending them referrals like Oh, call him call her right, and not realizing how much money I’ve just given away. So my buddy at work, told me, which I didn’t know he’s like, Oh, you’re a licensed attorney. So you’re exempt from all the classes like you just go straight to take the test. You just take the exam and do it. I’m like, Oh, that’s cool. So you know from my desk, it was on a Wednesday, I remember vividly, I Googled Chicago real estate exam sign up to take it on Friday thinking, No, I won’t pass it. But at least I’ll know how to prepare if I actually want to do so I take it on Friday. Somehow I passed and quit my job in one day. Wow, jump jump right in, joined a top producing team and really haven’t looked back since it’s definitely proven to be one of the best decisions I’ve made. And it was it was definitely a leap of faith at the time and kind of just went on a whim and a life epiphany but couldn’t be happier that I did it. Well, we really

D.J. Paris 9:09
should go back to the car Rookie of the Year award because that is such a big deal. You know, for those who are listening, who maybe are members of a different organization, if you’re a Realtor you might be with Main Street or or short Barrington car is is the biggest one here in the city and 1000s of brokers join it every year who are rookies and for you to to achieve that award is a huge, huge, huge deal. I can’t I can’t overstate that to our listeners. So everything Josh says going forward listen and do because he was able to knock it out of the park in his very first year and of course every year since as well. But to be even a top one percenter by your three is incredible. And out of all the people we’ve interviewed on the show, all of them who are top one percenters, very few of them made it within their first you know, three years. So huge congratulations to you. Which obviously, you already know how big a deal that is, but just want to make sure the listeners can really appreciate that. But let’s talk about, you know, your early days when when you first started, how did you go about finding clients? I mean, you don’t have the traditional real estate background, you didn’t grow up wanting to do this necessarily. So what how did you build your business?

Josh Lipton 10:26
So one of the first things I did when I when I first jumped in and you know, here I was, I didn’t know how to get get clients. Sure. I had a big network, and I ran in many different circles. But you know, generating business people buying selling renting homes was was challenging. So I actually had this idea at the time where I would go back to where I went to college, and Bloomington and other big 10 universities. And I would go speak at fraternities and sororities, I started at nine, then I went next door, and I worked my way down,

D.J. Paris 11:07
just went down Jordan Avenue with all the all the fraternity.

Josh Lipton 11:12
Jordan, yeah, it was the easiest pitch ever. Because if you think about it, the big 10 specifically Indiana, of course, Michigan, Wisconsin, Notre Dame, all the schools, you know what percent of graduating seniors already know that they’re moving to Chicago, they would accept that job. And they’ll be there are they are three, four hours a week, just far enough away, where they’re not going to come in on the weekend to look at apartments, they don’t know where they’re going to live. And I would go speak on Sunday, I I’d order some pizzas, I bring in some beer, and only allow the ones who are available. And asked for five minutes, you get up in front of everybody, and just say, hey, here I am, you know, my name is Josh Lipton. I’m a real estate agent, you’re here, you’re moving to Chicago, you need to find a place now, because they don’t know how it works. Of course, you know, let me be your eyes and ears, you don’t even have to come into the city, I could send your listings, you know, tell me what you’re looking for where you want to be what you want to pay, do you have a roommate, yada, yada, I get all the criteria, and then they would come in for a weekend I line everything up, and we land a great apartment. Because otherwise, if they wait till they graduate in June or July, everything’s already picked over. You know, they’re gonna they’re gonna end up overpaying for something that doesn’t check all the boxes and neighborhoods that don’t want to be in. And the best part about it is, hey, you know, this is free. You don’t pay me anything, I’m getting paid for the paper, the landlord, the owner, let me do everything for you. Let me find you the best place the best deal. And you sit here and enjoy your last semester of college and know that you have an awesome place to live and come back. So I did that. And it was a huge success. And, you know, getting up and speaking in front of 100 girls or sorority

D.J. Paris 12:56
was that’s yeah, that’s I yeah, that’s something that

Josh Lipton 13:00
around the sign in sheet, get everybody’s name, number and follow up. And the first six months in the business, I knocked out 76 rent on. And you know what people don’t realize people kind of, you know, scoff at it rentals. But, you know, renters turn into buyers, buyers turn into sellers. Yeah, and that’s how you, you know, that’s how you grow your business. And even to this day, you know, I don’t, you know, I’ll take a rental every day if I can, but you know, I don’t do any rentals anymore. But you know, you gotta remember, it’s a relationship business. And people remember, you know, the service you provided on the rental side, and when they’re ready to buy their first home. But do you think they’re calm? And then when they’re ready for a step up home and ready to sell the other one? You’re You’re top of mind and things just kind of took off from there and evolved from there. And it was such a simple, no brainer concept. And it was fun, too.

D.J. Paris 13:49
Yeah, that’s, that’s such a great strategy. Well, that’s really, really smart. And we are, I think it’s easy for people listening or brokers to forget how lucky and fortunate we are that we live in a city that number one, number one has the ability to do rentals and make a living, but also and you’ve been in New York, it does not work that way. In New York, you you know, if you’re working with it with a broker, you’re paying the renter is paying that commission, whereas we’re lucky here where it’s the property management company or the owner that’s paying the Commission, the renter doesn’t pay. So that’s a really important point. It’s, you know, it’s an easy,

Josh Lipton 14:23
not a very difficult sale.

D.J. Paris 14:24
No, it shouldn’t be, but very smart. And, boy, I wish I you know, every almost every single person we’ve interviewed on the show started out doing rentals in some capacity, because of course, they didn’t have a ton of friends that were buying and selling right away. So and then, you know, obviously those people, like you said, turned into buyers and then buyers turn into sellers. So really, but you know, but prior to being a broker, you know, you talked about being in banking, in private equity. Obviously, going then on to becoming an attorney. How was your experience in the legal education you had help? You know how helps you in your career as a realtor. Has there been any, any connections you you’ve made there?

Josh Lipton 15:05
Yeah, sure. Well, you know, I think any education, whether that’s an MBA or a JD or other designations, or certifications, you know, I think they’ll help, I think they will add value anything to do to set yourself apart and put something behind your name and the credential. Certainly, you know, if anything, it gives you credibility and makes you stand out amongst other realtors and life experience to you know, that there’s nothing more valuable than that. And, you know, previously, you know, when I was working more on the banking side of private equity I was working on much larger 1020 30 $40 million commercial transactions, multifamily office retail. So that, you know, having that skill set to, you know, allows me to kind of look at deals and analyze deals through a different lens, when I’m working with a developer or builder who’s looking for a particular piece of land, being able to look at it and see its true potential and what you could build, or a value add opportunity, where maybe changing the zoning, and, and adding few floors or, or yada yada, it just offers a different perspective that, you know, affords me the opportunity to kind of work with a with a wider clientele, not just buyers and sellers, but also investors, builders, developers, and and then the legal component, too. I think, certainly, if anything that, you know, teaches you how to think trains you how to think objectively, and others, there’s many, many synergies between, you know, being in real estate and law, especially with agency and contracts. And no, it definitely has benefited me greatly.

D.J. Paris 16:53
I was curious to to know, is it I don’t know, how much, you know, depends on the type of law that that one would practice. But how would any of the negotiation skills used when you were practicing law? You know, as a full time career, it hasn’t had any of those translated over?

Josh Lipton 17:11
Yes, I think so. Just Well, you know, of course, I can’t give away all my secrets, you know, I think, again, just, you know, being able to think objectively and strategically, you know, while maintaining, obviously, obviously, ethics and morals, you know, certainly benefited me in dual agency roles, where I’m representing the buyer and the seller. Sure, in terms of putting up the, the Chinese wall there. And I think, you know, sometimes buyer’s or seller’s are uncomfortable with a dual representation, but sure, then, you know, then knowing that I’m a lawyer as well. Right. And it held you to that level of professionalism as well, if anybody could do it, they know that I know, the boundaries on that. And, and, you know, how to represent both both interests? Equally. Yeah.

D.J. Paris 18:08
And I think, you know, talking about your clients, your business, which and you and I talked about this actually at the restaurant was, briefly, we talked about, you know, how you’ve built your business, and I know that it’s, you know, it’s largely driven by referrals and repeat clients and you spend, essentially no money, very little money on traditional marketing efforts. For example, a lot of brokers, you know, purchases, you know, Zillow, Trulia leads, realtor.com leads, etc, you really don’t do that, how have you been able to continue that upward trajectory, as opposed to other you know, brokers, who, that’s where they focus their, you know, their, their marketing dollars? How have you been able to do it without that? Yeah. So,

Josh Lipton 18:48
you know, at the end of the day, everybody has their own style, and what works for me might not work for somebody else, and vice versa. And early on in my career, I did dabble a little bit in buying Zillow leads for short time. And, and actually, from an ROI standpoint, I did very well in converting them just I didn’t really enjoy the practice and having to wait for that call and then trying to establish rapport and, and look up the property real quick and try to convert it to a warm lead. You know, I just I prefer growing my business organically through my own sphere of influence and, and past clients, and really just double down on those relationships. And, you know, call people that already know me, like me, trust me, rather than spending 1000s of dollars a month buying internet leads, which can be very, you know, very, you can make a lot of money doing it. I know a lot of people that do and you know, good for them, they’ve mastered the craft and like I said, you know what’s works for them, and doesn’t necessarily work for me, but I’d rather rather than spending that money every month, and I’d rather take a bunch of clients out there. Under call it all client just to catch up not even look at your business go by mistake of taking a ballgame, send them really thoughtful personalized gifts, because the little things are what clients remember. And you know also to, aside from, you know, always staying front and center during the transaction after the transaction is most important. Absolutely, I’ll just staying in their lives and being a part of their lives. And it’s funny to this day, a few of my best friends actually started off as clients who either referrals are actually one I met in the lobby of my building at a time where I was where I was renting several years ago. And we struck it off, he actually was with another agent at the time and wasn’t had the best experience. So he asked me for my card and called me later and fast forward about two years he stood up my wedding. Oh, my gosh.

D.J. Paris 20:57
That’s yeah, that’s, that’s, that is amazing. I think too, it’s, it’s, I’ll give a quick tip. And this is actually courtesy of Ryan de April, who does a monthly coaching episode with us. He’s gives such a great suggestion if, if brokers who are listening are wondering, Well, gosh, you know, staying in touch with someone after the sale, in theory is really great. But what do I say when I call and Ryan had a great suggestion that it’s probably, I don’t know why I would have never occurred to me. But he said, If you don’t, you know, have a reason to call somebody he goes, if you’re connected with them on social media, whether it’s LinkedIn, Facebook, Twitter, Instagram, etc, you know, go through, see what they’ve been up to, in particular, like LinkedIn is a good one. Because if there’s a new career change, usually that’s highlighted, but just see what they’ve been doing in their lives and then call them. And for example, I just saw that the owner of our company, his wife just had an emergency appendix removal a couple days ago, and he didn’t even say anything to us at the time. But I saw that that she did. And so I immediately reached out because we’re friends as well. But I said, Oh my gosh, Natalie is in the hospital. And again, meet her you probably want to call with with more for other reasons that are more positive. But that’s a great a great technique. If you’re not sure, oh, gosh, I sold this person a home three years ago, I don’t really know what’s going on in their life. Go online and see if you can find some events, and then call them and say, Hey, I just saw you did X, Y, and Z and just wanted to reach out and say, you know, how you doing? And

Josh Lipton 22:22
that is great. I did I actually remember listening to Ryan’s episode on that and piggybacking his idea, let me take it a step further. And then dude, right. Yeah, episode. So, actually, through Facebook is because as you know, you have 1000s of Facebook friends, though, you probably only know about 20% of them, right? So I’m just sorting through looking at everybody’s updates and posts. And you’re like, how do we know that person or you don’t even know. So you have the ability on Facebook to create lists. So you can create lists only of people that you want to see. So you could put all your clients and business partners for anybody that you either do business with want to do business with, or think you might do business one day, and make it so you only see their feeds, so then you really know what’s going on in their lives and you don’t miss it when you’re sorting through the hundreds of other feeds that you know people that you don’t really care what’s going on their life because you don’t have a relationship.

D.J. Paris 23:18
Oh, that’s such a great idea. That is that that really takes that suggestion to the next level. So thank you for that. And I will be referencing you on future future episodes. Because that’s awesome. Aside from from what we’ve already talked about, what is something about you This is putting a little bit on the spot, but what’s something that most people don’t know about you or would be surprised to learn about your business?

Josh Lipton 23:40
I think most people are surprised by really how much this is buyers and sellers, you know, how much I enjoy and get into and and get, you know, hands on approach with the whole design build element. Oh, and you know, being able to really walk into a listing and and see its true potential. And, you know, whether that means you know, light upgrades or full gut on full gut renovations you know, I offered that insight this might have something to do with you know, growing up the son of an interior designer kind of grew up around it right.

D.J. Paris 24:16
That’s that’s your mom.

Josh Lipton 24:19
Yeah, there’s certainly there’s certainly buyers out there who you know, want to buy something turnkey or brand new where they don’t have to lift the finger or do any work. You know, but for the buyers who are willing to get their hands dirty, you know, I tell them you can either buy someone else’s value their dad or you could add it yourself and make it your own you know, in the process of doing so. So you know, whether that’s for a buyer after a purchase or you know when I’m when I’m prepping a listing to sell you and I walk through you know I’m in the trenches every day so I know what buyers like and what they don’t like and you know where they’re going to push back and kind of naturalistic down and, you know, I like to, you know, go go in there and suggest anything from No, like renovations to countertops or floors, or, you know, just making the listing as showroom ready as possible. And then, you know, in doing so you’re maximizing the value. So, you know, if the, of course, every seller out there, you know, one of the struggles is, you know, every seller thinks that their home is worth more than it actually is, of course. But, you know, sometimes you have to spend money to make money. And, you know, after we do it, you know, sellers, I was like, Man, I wish I would have done this sooner, so I could actually enjoyed it. You know, if another adage, I like to say is, you know, if it makes dollars makes sense. And I think this past year, I had at least, at least five or six, pretty much full on gut renovations were sort of situations where I was like, alright, well, if we list today, you can sell it for x, though, if you spend, you know, however much comes to you can sell for y and sing it on paper, it really, it’s kind of one of those like aha moments, and, you know, sellers totally placed their trust and confidence in me in my ability to really maximize the value and see its true potential and, you know, then you can really tell the story of the value added when you’re going to sell it, you know, always make sure to take a lot of pictures before the before and after. So you can justify why you’re selling for X amount more. Because otherwise buyers gonna walk in and be like, alright, so I see what it looked like when you bought it, it looks the exact same, you didn’t do anything aside for maybe a little market appreciation, what justifies you looking for this number. So the reality is dudes not only going to sell for more money, but you’re going to sell quicker, so less carrying costs, and in and out a deal a lot faster. And,

D.J. Paris 26:46
you know, if you’re a realtor out there listening to this episode, and you’re hearing what Josh is, is talking about, and again, Josh has only been a Producing Realtor for five years. So he’s accumulated. And again, you you had some little some of this information from, from previous careers. But really, you know, you learn this very quickly and very successfully. And if you’re a realtor listening, and you don’t have this information, you know, just imagine going up against Josh and a listing presentation, he’s gonna win, because he knows he knows some of that. So I would encourage everyone listening to really develop that skill set of knowing how to walk into a home and saying, okay, here are the five things that absolutely need to be done to being able to justify whether it’s a full gut rehab, or just you know, replacing, you know, a door or window or some floor

Josh Lipton 27:30
and take it, you know, just going on that to you, and we’re having those conversations and try and decide, should we do this, or should we not do this, right? I like to live kind of 8020 rule. I didn’t invent this, obviously, you know, I like to ask the seller or tell the seller, well, you know, it’s if 100 People walk through that door, as long as 80 people are going to walk into like, oh, wow, you know, I like that paint color. I like those new counters that light fixtures Great, then do it. If it’s questionable, you’re not sure then. Don’t do it.

Unknown Speaker 27:59
Yeah. A great.

Josh Lipton 28:02
Gotta keep in mind, this is actually kind of funny, when we’re doing this sometimes like, oh, I don’t really like that. You know, I don’t like that pink color. Yeah, I don’t like that. That’s not my style. And I kind of just last because it’s like, I don’t care if you like it or not, we need to appeal to the masses. Right about whether you like you’re selling this, you want other people to like it. So yeah, you got to deal with it for a little bit. You know, just just trust me and you’ll be gone. In no time.

D.J. Paris 28:25
Yeah, I just read a funny idea. And I don’t know if I don’t actually know if this would translate into into sales or not. But I was reading a real estate marketing idea list yesterday and somebody broker from somewhere had a great or interesting idea where she said, You should put one interesting removable object in every home and what she does is she puts a Giant Buddha statue that’s kind of silly looking. And she places it, you know, somewhere in like the living room and she just brings it from let’s do the listing. And, and she goes the reason I do it is people remember, this is silly Buddha thing. And it doesn’t get in the way of somebody not wanting to buy the home. But she’s she said, Oh, it’s just something that you know, maybe if they seen five homes that day, they remember the big silly Buddha statue and they, you know, so I don’t know if that’s a that actually.

Josh Lipton 29:14
Anything to make your listing memorable. Yeah.

D.J. Paris 29:18
Speaking of buyers and sellers, you know, what advice do you would you give because we don’t just have Realtors listening, we do have buyers and sellers. And the reason I know this is because oftentimes people that we’ve had interviewed on the show, come back to me like a month later and go, Oh my god, I got a few sales people, somebody listened and then they contacted me. So for those that are listening, who aren’t real estate professionals, but maybe have have some questions, you know, what advice would you give to them? You know, right now, if they don’t have a realtor that they’re working with,

Josh Lipton 29:51
you of course will on the buy side, you know when when you’re looking for a realtor to represent you and purchasing a property. I would say the most important thing hands down is really get to know each other on a, on a personal level, make sure you like each other personally, because you’re going to be working really closely together professionally. And if you don’t get along personally, yeah, you’re not gonna get along professionally, and it’s not going to get an easier because a lot of time together, you’re going to be having a lot of, you know, personal conversations, and you’re gonna make difficult situations, and it’s emotional. And it’s, it’s, you know, it’s a grind. So make sure you really connect on a personal level. And, you know, your your interests are aligned with your agents, business practices, and, you know, ask as physical, asking difficult questions, you know, before you, you decide you’re gonna work with somebody, you know, vet them to make sure you fully understand what they’re going to do for you. And set expectations from beginning. You know, do you want an agent who’s only going to? Have you ever had a 10 minute conversation, ask you a few questions and set up an MLS search and then just sit back on their heels waiting for you to flick interested or not interested or telling you to go look at something? No, I mean, me personally, I don’t really believe in MLS searches. I think that’s kind of, you know, a lazy way to go about finding properties for your agents, sure, I have to sign up for particular clients, and they go to me, and I sift through all the garbage, because I don’t want to just bombard my clients with a daily email where you know, 90% of properties, they’re like, why is he sending me these properties? And all it is wire? Why are people getting them? That’s because their agent is lazy search the time. So I told my clients, when I send them something, know that it’s, you know, hand selected, and I thought it would, it would actually be a good fit for you. And, you know, also you want to make sure that whoever you’re working with, say you’re looking in the West overvolt market, make sure that they know the area, right, make sure they’ve done business they’ve they’ve sold, they represented buyers and sellers in the area, they have their pulse on the market. And aside from MLS, you want someone who’s connected with other brokers amongst the industry has a good reputation that shares off market opportunities, packet listings, before they hit the market. So you know, your agent can get you in the door, before you have any competitions, avoid any multiple offers. And, you know, really, at the end of the day, you want to know what they’re gonna do to make it happen. You know, are they sometimes there’s buyers who want a really particular listing that doesn’t come up often or in a particular building that doesn’t see many resales. And you know, your agent could either sit there and look at the MLS every day or you know, sometimes you got to take the initiative and go, you know, scrolling scrubbing the castle, that expired listing, see who’s tried to sell in the last couple of years, but maybe they didn’t forever reason, attract on the phone number call the sellers directly, see if they’re still in the market. Because, you know, at the end of the day, everybody’s a seller, everything in this world is for sale for the right price. Sure. And you know, that seller, maybe they’re not interested, maybe they change your mind, but they’re gonna remember that you took the initiative for that buyer. And when the time comes, that they are ready to sell, what do you think we’re gonna call it right? So you know, and then

on the list side, too, you know, other than, you know, the same thing, just simply listing on MLS, you know, I sellers, listing presentations, you know, you’re not just hiring somebody to list your property, you’re hiring somebody to sell it and actually be there and strategically market it and keep it front and center. And you’re not just sitting back waiting for the phone ring or someone to schedule a showing and put the home on lockbox, which also is one thing that I don’t believe in, you know, if somebody’s hiring me to sell their home, you’re getting me if it’s not me, someone on my team is gonna be there and actually sell the home. And, you know, one thing too, that people overlook is you’re not only selling the home, you’re you’re selling a lifestyle, a quality of life, you’re selling the neighborhood. So you need to know, everything that’s going on in the area, you know, you need to know what’s in walking distance things to do places to eat, you know, is there new construction going on how far from public transportation grocery stores, you know, all attributes of the home because they’re not just buying the, the bricks and you know, the the actual unit they need, you need to sell it on the location, what life would be like, living in that area. And one other thing too, you know, when you’re, you know, that I think it’s smart that all sellers should do. I think it’s always smart for a seller to do a pre MLS home inspection. Have your own inspection conducted before and you know, be proactive and identify any potential issues that a buyer is going to because the reality is, if you do that, sure, you’ll spend a few $100 on a home inspection and then you could make the fixes that others are going to find. You know, then you eliminate your buyers coming in. because reality is, they always think it’s more expensive to fix something that might only, you know, be a $20 fix or an extra 200. Right. So you’re always gonna see a return on that. And you’d have the peace of mind that you already know the inspection. Yeah, there’s no surprises. Yeah, yeah. And then lastly, just, you know, I can’t stress enough about you know, pricing. And, you know, pricing it appropriately, the first time out of the gate, right, and just overpricing a listing is going to backfire. 10 out of 10 times, exactly. It’s just gonna rack up market time, you’re gonna end up doing price reductions, or you’re gonna cancel it and relisted, though that doesn’t really fool anybody, because you can see the listing history for him. So, you know, you don’t want to over promise and under deliver, because statistically, sellers are going to get their best offer than the first two or three weeks on the market.

D.J. Paris 35:52
Yeah, no, you’re you’re so right. And, again, the the other reason why it backfires, too, is then the realtor looks like they didn’t do a good job for the seller, by allowing that over price, you know, to go live, so,

Josh Lipton 36:06
yeah, totally. And of course, you can’t you can’t avoid the the sellers who, you know, are, you know, they want to try, sometimes we’re not off by much, and they want to push it a little. And sometimes, course, depending on the inventory in the market, you know, I’ll agree to do it. You know, if it’s within reason, if it’s an egregious, you know, stretch where I know, it’s completely unrealistic, you know, I’ll just pass on that listing, because there’s a lot of realtors out there, discount brokers who will take that listing Sure, and, you know, knowing that it’s overpriced, but they think they’ll be able to get price reductions, price reductions. But that’s not really a practice, I like to I like to go in there. Well,

D.J. Paris 36:47
it’s just, it’s a huge waste of your time, possibly. And then also, it you know, the, the owner is more likely to blame the realtor

Josh Lipton 36:55
when it doesn’t sell. So, you know, but it’s an extra $10,000. And I say we do it, you know, I’ll do it. But you know, we got to set the expectation at that moment, and let the seller know, all right, we’re gonna do this, but you set a timeframe. If we don’t have any serious interests, or offers and call it two or three weeks, we’re gonna scale back a little bit and remind them that we’re having, we’re having this conversation now. So when in three weeks, I tell you, we need to reduce the price, you know, don’t think it’s because I can’t sell it, or that was my fault. Right? Yeah, you’ve made it to get that in writing.

D.J. Paris 37:27
Yeah, that’s, that’s true. What do you think distinguishes you and in your, your business, your practice, from the gosh, almost 40,000 other realtors in the Chicagoland area? What? How would you answer that?

Josh Lipton 37:40
I think, you know, people are so focused on and the actual real estate, they overlook the human element in the people. And you got to remember, this is a relationship business. And I think clients really appreciate my, my brutal honesty, authenticity, patience, and, you know, tenacity and my follow through. And, you know, really, I just, you know, whether looking to the buyer or seller, you know, I, I make it a point, and I don’t tell my clients necessarily what they want to hear, but I tell them what they need to hear, you know, I’m not just going to try to sell them on a property to make a quick sale. You know, although we are in the sales, business, buyers and sellers, they don’t necessarily want to be sold, when making such a huge, life changing decision in their life, you know, they want to know that their agent is genuinely looking out for the best interest and not just looking to make a quick sale and move on to the next deal. And, you know, it’s unfortunate, so many realtors in our industry, we have a stigma for being pushy and salesy, and I think my clients really just find it refreshing to learn that that’s, that’s not how I conduct my business. And, you know, I’m not in their face all the time. And I’m not just trying to make a commission. But at the same time, you know, I’m ready to move as, as quickly as they are, when when the time is right, or when the property is right. You know, I’m not afraid to tell them, you know, no, I don’t care if you’re busy, we need to go through this. Now, this is exactly what you want. You know, if you don’t see it, you’re gonna miss out on it. So I think you just, you know, being being totally candid and honest and genuine. And lastly, you know, when working with buyers, too, you got to be respectful of their time, I’m not just going to take a buyer out and show him 10 properties when, when I know they’re genuinely only going to like two or three or maybe only only a few of them are going to check most of the boxes that they want to see. I’m going to take a buyer out and there’s only a few we’re going to see, we’re only going to see you know, there are only a few that really worked for this particular client and I think have legitimate interest in being the one we’re only going to see those I’m not going to waste my time and wasting my clients time showing them you know, 10 property Just to appease them and say, Oh, well, we sell 10 properties. So, you know, I think you really need to be respectful of people’s time. Because, you know, as busy as I am I, my buyers are busy too. And you only want to put properties in front of them that really have the potential to be the one.

D.J. Paris 40:17
Yeah, and I’ll also give you an additional complement to where I suspect this translates to your clients as well, is in prepping for this podcast, I will tell you that in we’ve Gosh, we’ve interviewed about 80 Top 1% producers and I can say in my memory is not great. But Josh is almost certainly the came the most prepared of anyone that that we’ve ever had on the show and just the amount of information he provided us helped make my job a lot easier than sometimes you know, other realtors make it. And so I will tell you that if he puts this amount of care in I know he does into his clients. That’s Boy, that’s really impressive. I was saying right before we got on, I said, Oh my gosh, I was heaping praise on him for all the all the work he did for us. So again, yeah, I’d hire you.

Josh Lipton 41:14
Let’s talk off here. Now. It’s a really, it’s all about the details. So it’s, so what I do, it’s, well, I love this job. And you know, just as no two clients are the same, no two properties are the same. And no two listing strategies are the same. And I present properties differently. And, you know, each each day is a new challenge and new adventure and, and a new fire drill. Time. So, you know, but it keeps it exciting. And, you know, I wouldn’t trade for anything.

D.J. Paris 41:44
And I have one final question for you. Because you you’re you’re at Compass we’ve we’ve owned because compass is still relatively new to the Chicago market. And they they’re killing it here and pretty much anywhere they’ve opened up shop, but we’ve only had a couple of Compass people. So we’re I’m always excited to hear from somebody who’s who’s moved to compass. Can you talk a little bit about why you why you decided on compass and what your experience has been so far.

Josh Lipton 42:10
Yeah, absolutely. So I moved over to compass last April. Crazy. It’s almost coming up on a year here. Yeah. You know, at the time, I wasn’t, I wasn’t looking to be to be frank. But, you know, I, of course, took the meeting had some conversations and kind of learn what it’s all about. And it turns out that, you know, my my business practices and the way I conduct my business, and, you know, where I see my business going is just totally aligned with Compass and what they’re doing, obviously, now we have almost 600 agents in Chicago. And, you know, we’re in dozens of markets. And, you know, what I love about them too, aside from their, you know, our platform, and our technology, just, you know, basically a one stop shop, platform to conduct business. And, you know, not only do they make it more efficient, and free up my time, you know, to focus on what I do best. And that’s, you know, selling and developing business and networking. But they’re just so forward thinking, and no idea is too big. And, obviously, we’re moving very fast, and our values are totally aligned, and there’s just, you’ll come to the office, it’s fun, there’s tons of energy, and people really enjoyed being here. And everyone’s thinking big and outside the box. And everyone’s collaborating. And, you know, we’re kind of all on this, this mission together. And it’s exciting and you know, Nothing surprises me this company and I wouldn’t I wouldn’t be surprised if not tomorrow I wake up and find out that, you know, X Y or Z Realtors come over or, you know, Amazon bought us who who knows, like, you know, nothing’s off limits and you know, you got you got to think big and and they totally embrace it. And it’s, it’s been exciting. And I’m having fun.

D.J. Paris 44:02
Yeah, just to give you a benchmark so the company I work at so what I do full time is I recruit Realtors not obviously not for compass for different from but it took me doing this literally full time five years to grow from basically from zero to 600. brokers and for companies to come in and do it in like one year is or two years maybe is absolutely incredible. And that’s why I’m so interested to hear you know about your switch over there because obviously, they must have a lot of really compelling cool stuff. So if brokers are listening, you know, you can

Josh Lipton 44:34
always reach out to Josh to get more. Absolutely. I’m happy to share my experience and not trying to poach any agents here. Let me be clear, because again, you know, it’s great for me, it might not be for everybody. But I’m happy to their experience and how it’s helped me. Yeah. Oh, they’re

D.J. Paris 44:51
doing some cool. Yeah. Yeah, but at the same

Josh Lipton 44:54
time, like I said, I came from from Jameson, so I’m sure I have nothing but respect for Those calls over there. It’s a great company, it’s a great brokerage, run from the top down with Chris and Mike and Jen. And, you know, it was a business decision was nothing personal. And you know, we’re still friends to this day, and they respect my decision, and I wish them nothing but the best.

D.J. Paris 45:14
And for anyone listening, whether you’re a realtor who is interested in learning more about Josh’s team, which by the way, we should mention is called Lipton, luxury living, or if you’re interested in learning more about compass, or if you’re a buyer and seller or seller or an investor or renter, or anyone who is like, Gosh, I really don’t have a great real estate professional that and I need one, or I want to develop a relationship so that when I do need when I have somebody, Josh, what’s the best way someone can reach out to you?

Josh Lipton 45:46
My, my cell phone, call text anytime that number is 312-504-5409. And my email is jl@compass.com. So yeah, so on that note, with my team, I actually, you know, we talked briefly about this DJ, um, you know, I am looking to hire and bring on a couple showing agents to join my team and, you know, collaborate together and work together and mentor and support me, but also support them and be a resource in any way possible. So any any newer agents out there looking to be busier, take on more and get some more experience? Give me a call.

D.J. Paris 46:29
And by the way, you know, who wouldn’t want to learn from one of Crain’s Chicago’s most influential residential real estate brokers, I mean, I don’t, I don’t even mean that it being you know, sort of flipper or being silly. Like that is a legitimately amazing credential. So if you’re out there, and you are thinking about, you know, wanting to team up or learn from someone, boy, Josh has a lot of a lot of really impressive accolades in his short five years, in the business, and, and, you know, not the least of which the amazing amount of production he’s done, but just some of the other, some of the other, you know, sort of acknowledgments he’s received in the industry is very, very impressive. And I was, I was super grateful to just have run into you, accidentally, and because typically, you know, look, 99% of the time, if I ran into a realtor, I probably wouldn’t have them on the show, because they’re not in the top 1%. And it just so happened that, that you of course, are and so we’re so grateful that and also, by the way, Josh is too busy to even do these kinds of shows. And yet he found talent time for us, so says a lot about him as a person and his character. And also we’re just very grateful. So if you’re, whether you’re a realtor, or you’re looking to maybe, you know, make a switch, talk to Josh or if you’re a buyer seller, investor, renter, obviously, he would be honored to talk to you as well and tell you more about what he offers, you should also follow on Instagram, you can just do a search for Lipton luxury living but it the actual URL is Lipton underscore luxury underscore living, I’d add Instagram, but just search for it, you’ll find it. Also Josh’s website is Lipton luxury living.com. So you can you can find in there, we’ll post a link post all these links in in the notes. So Josh, I wanted to thank you, I want to thank you for being on the show. This is a real honor for us. And just so everyone knows, Josh was on our invite list from day one. And we just hadn’t gotten to him yet. So this is like really, really perfect timing.

Josh Lipton 48:25
A little hard to get I told you the job. It was planned out perfectly to perfection. You know, it was it was meant the

D.J. Paris 48:33
well it works out great. And I there was so much value in this episode and I’m gonna go back and and highlight some of the the techniques and strategies you outlined to make sure I highlight them in the notes so that people can can take action on those immediately. But anyway, on behalf of Josh and myself, thank you so much for listening. If you are a new listener, please pass this podcast over to other brokers that you know, if you’re an existing longtime listener, we appreciate it and send in your questions. You know, continue to support us find us on Facebook, our website, you know, iTunes, Google Play all those places. So anyway, on behalf of Josh and myself, thank you for listening and we will see you on the next show and Josh thanks again.

Josh Lipton 49:16
Thanks so much for having me, DJ anytime.

Welcome to the January episode of Learning With A Lender with Joel Schaub!

In our first Learning With A Lender episode of 2019 Joel Schaub, Vice President at Guaranteed Rate, talks about how how the government shutdown is affecting lending rates, providing a real estate broker with an amazing opportunity to add value when contacting clients. I take a listener question to ask Joel about the difference between a pre-approval letter and a pre-qualification.

Joel Schaub can be reached at joel@rate.com or 773.654.2049.

Joel Schaub

Transcript

D.J. Paris 0:14
Hello and welcome to another episode of Keeping it real the only podcast made by Chicago real estate brokers for Chicago real estate brokers. My name is DJ Paris, I am your host, and welcome to learning with a lender. This is our monthly series with guarantee rate Lending Specialist Joel shop. Little bit about Joel, if you’re a new listener, he’s vice president of lending guaranteed rate, Joe has been doing loans at a high level since 2003. has gotten to that level because of what he does directly for agents, he gives part of his commission back to the buyer on every transaction. Last year alone 2018, Joe gave back over $271,000 in closing costs to buyers who worked with him. And that put his value in the top 1/10 of 1% of all lenders nationwide. out of 380,000 loan officers in the country, Joel is ranked 100 and 81st. Year to date, or rather last year, Joel closed of 200 transactions for just under six or just reps are just at 65 million in closings. And obviously it’s the new year. So we don’t have his numbers yet. I’m sure they’re going to be as good if not better. And by the way, you should reach Joel before I get before he says hello, you can reach Joel at his email address, which is joel@rate.com. Let’s say hello to the biggest Cubs fan. I know Joel Shah. Good morning.

Joel Schaub 1:39
Thank you so much. It’s pleasure to be here, again, and I appreciate all the props. But this is all about giving back and actually helping these agents that are listening, find their genuine self and grow their business.

D.J. Paris 1:52
Great. So what do we have to what are we talking about today?

Joel Schaub 1:56
Well, it’s just that how can we add value, right? People come to me all the time, and they know the volume that I’m doing and they think there’s a secret, right? Right? Watch this guy do it. And there really isn’t anything that is other than hard work and finding out what you like to do. And being that genuine self. So for me, you know all about the Wrigleyville buildings, right? All the billboards, and the charity events. So if you find what it is that you like to do, it’s so much easier than buying leads or going through all of these different steps. You build your business, and if you can find that, that you are genuine about. That’s how I grew my business.

D.J. Paris 2:40
Yeah, and we should also talk about realtors to the rescue since I know you are a part of that organization on the board. I have attended a few events of theirs years ago, and I sort of just fell off. Carrie McCormick, by the way is also associated with Arizona, who’s on our podcast, and that’s a passion of yours. Can you talk about that a little bit?

Joel Schaub 3:00
It’s the exact same thing. We’re on the board of directors, my wife Christina and I for real estate to the rescue. It used to be called realtors to the rescue. Right?

D.J. Paris 3:08
I remember what it was called that. Yeah, right. And so

Joel Schaub 3:11
it’s the exact same organization. And what we do is we help no kill animal shelters throughout the state of Illinois. And our big annual event is the Cubs outing. Last year, we raised 10s of 1000s of dollars for no kill animal shelters via cubs outing, we did raffle we did silent auction. And the date this year will be June 21. So save the date. And it will be a great event for real estate as far as actually growing your business networking, and not all about you. It’s about trying to find a way to give back. And it’s a perfect example of one of the ways you can be really active and give back.

D.J. Paris 3:54
I agree. And I recently I’ll tell you a quick story, Grace Goro, who’s been on the show, she has an app properties broker, she did an event that I wasn’t she was nice enough to invite me to, which is nice because it was also down the street at the paws facility downtown. And she did an event she contacted all of her clients and said, Hey, why don’t we go volunteer over at PAWS together as a group for a couple of hours on a Sunday. And she brought in pizza probably I don’t know, you know, if it cost her a lot to set this up. I suspect it didn’t. But I was happy to go because I support pause as well. And, and I went there to support grace and we got to play with the animals. We got to make toys for them. And you know, and again, I’m not one of Grace’s clients. I’m more one of her friends. But a lot of her clients were there. And this is something she’s Ultra passionate about. And as a result, it made everybody feel feel great about themselves, hey, we just did something good and also supported Grace and I suspect it may have even landed her a few deals as well. I don’t know it happens

Joel Schaub 4:56
that way. You’re exactly right. If you can use it and promote it and social media and show that you actually are out there doing something. So many agents get stuck in the same rut of posting on social media and saying, Don’t forget about me, I’m never too busy for your referrals and the nice thing, right?

D.J. Paris 5:14
Every, everybody says, I’m never too busy for your referrals,

Joel Schaub 5:18
we’ll never be too busy to go back and volunteer never go out and give back. People were attracted to that. And so years ago, I realized if I could actually find a few things that I’m genuinely passionate about, it will help grow the business. And that’s how I’ve just been genuinely involved in these different events, these different charities, and it truly is this concept. You’ve heard me say it before givers game, okay? If you can find something that will be genuine to you that you can give back your business grows. And it really truly, in my case has.

D.J. Paris 5:52
Yeah, it’s a win all the way around. I couldn’t I couldn’t agree with you more. And if you haven’t attended one of Joel’s his, his events outside of Realtors, the rescue events Joel puts on he does a lot of bingo events. They in a weird way, in that weird way. But you see the absolute passion Joel has for the people who attend. And these are realtors, these are clients. I mean, between you, your wife, and I Oh, gosh, I’m blanking on the third person’s name, who’s also there helping out but I mean, everyone is on board, it is a party and it’s in the middle of the day. You know, it’s it’s a great getaway. And you give away a lot of wonderful prizes. But again, that is that is giving back you are actually giving back in those instances. And it’s, Boy, I’ve never been to an event quite like that. And if you’re listening and you, you want to see what it’s all about. I’m sure you know Joel can can send you an invite, but

Joel Schaub 6:51
there’ll be another one coming up, we do an annual or we do a four times a year annual bingo event and it’s fun, we’re giving away large screen TVs, trips to Vegas 12 person boat cruises, brand new iPhones funds, things that you could actually get excited about coming to an

D.J. Paris 7:10
event like that. And by back to realtors the rescue for a moment I forgot to mention I will put a link to Pete if you’d like to get involved and donate some time, donate some money or or just just spread the word, I will have a link to realtors, real estate to the rescue rather on the description so people can get involved that way as well. Yes,

Joel Schaub 7:31
absolutely. There’ll be a link as soon as that goes up for the June 21 event. This is one of the easiest simple ways to get involved. You donate $100 Not only does it get you good tickets to the Cubs game, it gets you a pre party, as well as your name out there in the community as somebody who’s giving back.

D.J. Paris 7:51
Wonderful, wonderful. Yeah, so what I’ve always thought so I’m involved with a with a with an organization myself that’s unrelated to real estate. And it’s something that that I’ve become passionate about over the years. It’s a place called misery Cordia here in Chicago, I’ve been doing that forever. And I will tell you, when you find your your passion in with respect to giving in particular, I mean, I can honestly say that for me personally, and this is something I did Gosh, I’m now in my fourth year there. It’s I can divide my life up into pre misery cardio and cardio, and it is much better post. And so yeah, you know, and we’re so lucky in Chicago in the suburbs as well to have so many opportunities to to give back. There are just a million a million ways to do it.

Joel Schaub 8:42
I think I’ve told you this story before, but this is perfect for the listeners that haven’t heard this. So years ago, I was a mortgage broker. And it was 2006. And so let’s think back to that time, right? Everyone in their brother was getting into mortgage getting into real estate, because you could not work very hard. make six figures just kind of bumbling your way through it. Right? Every person that you would meet would be part time realtor or part time mortgage guy. And it was back when I could actually do mortgages for almost anybody and I would give my business card. This time I gave it to a cab driver. And he looked at it and he said, Oh, I also do mortgages, man. And so think about that for a second. I’m sure the cab driver was also doing mortgages, right? Everyone was doing one or two deals a month. And those guys are all gone. Right? Right. Sure. I decided then then I’d have to do something to differentiate myself to actually grow the business to this multimillion dollar level that I wanted to get to. And I knew DJ couldn’t control rates, right? But I could control closing costs. I could give back part of my commission and actually help people get over For the edge, if they couldn’t quite come up with the cash, foreclosing, I could give part of my commission back and help them get over the edge. Flash forward to today, that’s what I do is on every transaction that a realtor sends me, I could be their real estate partner on the mortgage side and give their buyers $1,500 In closing cost credits, it covers our underwriting fee and appraisal. And that’s how I got to over 271 grand out of my commissions last year alone, that I forego, and I give back to buyers. Yeah, it’s

D.J. Paris 10:33
it’s incredible. I mean, you know, Joel has has a very impressive reputation in the broker community as well with his directly with his clients. And part of the reason in addition to being so generous with giving closing costs, you know, credits is how quickly you are to respond. I mean, this is you were just on a massive vacation down to South America. And, and I had forgotten Joel was down there, because I’m way too wrapped up in my own life to realize what everyone else is doing. And I said, Hey, when are we doing our podcast, and it was already on my calendar. That’s how dumb I am. But Joel, was probably on a beach, or wherever you were doing it, I know, you’re doing other things down there, too. But he goes, within five minutes, he responded. Now I you know, obviously, I’m sure you take time off too. But this is another yet another example. And for anyone I’ve referred business to Joel as well, and everyone has the same, the same, you know, sort of experience and this isn’t specifically a commercial for how great Joel is, but he but he is actually that great. So it’s one of those things that I am, you know, happy to tout your your praises, because, again, please understand, you know, Joel takes time out of his his very, very busy calendar to, to do the show, which we’re very grateful for the fans and listeners love it. In fact, I have a question for you from one of our listeners, if you have a fantastic, let’s question. All right, so the question is, and it’s a good question, I think maybe not every broker fully understands the difference between pre approval letter and a pre qualification?

Joel Schaub 12:10
Oh, that’s great. Okay, most of the time, we’re using that word pre approval letter, right? It’s kind of across the board. But there is a major difference, whether or not the clients provided documentation so that we can actually prequalify the borrower. So let’s start with pre approval. A pre approval letter will help a client go through just the basics to understand what they qualify for, on a monthly payment. Okay, the pre qualification, I actually collect the pay stubs, the bank statements, the tax returns, run it through an automated system, and actually have the knowledge and expertise to say, Okay, if you got a property under contract, you’re already qualified. All I need to do is send it in to my underwriter. So there’s a major difference between just getting one of those online pre approval letters. Sure, right. We’re not here to talk good or bad about any banks, but we know some of them that will just issue you a letter sir matter of minutes without even looking at anything. We might not want to take that with as much of a grain of salt as compared to having true pre qualification. So it’s, it comes back to this as an agent, whether the letter says pre approval or pre qualification, call the loan officer that’s listed there. Okay. Right, just have a conversation. See, if they pick up the phone, you’ll know where you stand pretty quickly if the person on the other end says, Wait, who? Right What borrower name? I don’t, or, Oh, the Johnsons? Yeah, I spoke to the Johnsons last week, their pay stubs are in, we know exactly what’s going on in that file. They’re good all the way up to 380. But I think they should keep their assessments on the place below x. And this is based on a maximum tax bill of why those are the types of things that you really want when you’re finding your team and your partner. It’s not just me, there’s 1000s of great loan officers out there that actually take the steps to do the pre qualification. And that’s the major difference.

D.J. Paris 14:10
That’s great. So I know you had some thoughts about what’s what’s currently going on in the lending world. Would you like to share this?

Joel Schaub 14:17
Well, the government shutdown, do you know about this?

D.J. Paris 14:20
I you know, I got a text about it from a friend. But that was No, yeah, I’m very aware of the

Joel Schaub 14:25
thing. Something about this, right. Yeah. So what does it mean? It’s actually one of the first time something is good for the buyer rates have dropped, right, right rates have dropped specifically because of this. So I’ll get into a little bit of the behind the scenes, right. When the stock market falls off, a lot of money goes into the treasuries, right safety and security of US backed bonds. When the price of those bonds goes up, the rates come down. So what happened we’ve seen rates right now at eight or nine month lows, okay. Just as early as November rates were at almost 4.8 Seven, five. Today they’re half a point lower, we’re at 4375 or below for a great borrower. So this is a great opportunity for these agents to do two things. One, add value by connecting with your past clients not about selling them anything, not calling up and saying hi, I’m never too busy for referrals, literally calling up and saying, guess what? We got the property closed seven months ago, did you know that rates dropped, it might be a good opportunity to reach back out to your loan officer to see if they can lower the rate for you. Wow, what a phone call that could be to an agent just calling back their past buyers. And adding value

D.J. Paris 15:40
some Well, I’m like that? Well, I’ll tell you I, you know, and I, my last mortgage I did was actually a refinance with guaranteed rate. And I had an amazing experience. But prior to that, I was with a different lender who I really liked who is at a different company, and they were very nice and professional. And for the, I don’t know, 12 years or so I had that mortgage, not once did any did my realtor call and forget about the loan officer, I never heard from them. And this is not guaranteed, right? Never heard from them. And certainly never, never heard from my realtor saying, Hey, this is an opportunity to you may want to look to see if you, you know, could refi and I was always the one proactively contacting the loan officer. And so for brokers out there listening, you know, all you ever have to do is once a year contact, you know, when there’s news like this, contact your your owners and say, hey, you know, you, I don’t know if this would affect you in any way. But here’s something to think about. Here’s a guy that you can talk to, and obviously pass a loan, pass along the lender that does a good job and answers the phone. And it’s such an amazing reason to pick up the phone and contact someone after the sale. Yeah.

Joel Schaub 16:49
And a lot of agents don’t really know this, this is a major drop right now for people that locked in the best rate over you know, close to 5% for below four and a half for them to call up and just have that knowledge and say, Hey, this is what’s going on in the market, it really adds value. Now you’re doing something that’s not asking for sale, you’re not asking for a referral, right, you will get a referral, you will be looked at as a trusted adviser, look who reached out to me. Because here’s what happens.

D.J. Paris 17:17
And there’s and by the way, there’s nothing in it directly for the realtor other than it’s just, this is a very nice thing to to let the

Joel Schaub 17:25
right now this should be this next week, right? Yes, you know, this is where the market is. And that inherently is the reason that it works because you are actually providing value, you’re doing something that they’re not expecting. And even if they don’t do anything, you’ve solidified yourself as not just a salesperson, you reach out to them and help them so rates are down, I’ll just give a little recap. So people are hurt the market is so on a conventional mortgage for a 30 year fixed. Those rates today are at 4.375. clients that are on an arm guaranteed rate today had arms that were five and seven years that were down at 375. Wow. Okay, so those are the types of things that you can say you don’t need to know all the details, just enough to be dangerous.

D.J. Paris 18:12
I mean, all you need to know at this point is call up all your clients and say, Hey, rates have dropped? I think it might be a good idea to revisit whether it’s a good time to refinance. Do you have can I provide you this lender that does a great job,

Joel Schaub 18:26
that even the last loan officer, this is not a pitch for us? Oh, sure, you know, that they closed and they had a great experience. Now, oftentimes they say, Well, I don’t want to have the cost associated with doing a refinance. Right? So and clients have known this about me for years that I’ll do any refinance for a flat $350. That includes appraisal, underwriting, processing, everything for $350, just during the business. So that is almost $2,000 less than just walking back into the bank.

D.J. Paris 18:59
Yeah, that’s, that’s, that’s great. I have a quick tip. And this is I apologize a bit out of order. So for those people listening, we talked earlier Joel was talking about the difference between pre approval pre qualification. I have a quick tip. This just came to me and for those who are listening who are working internet leads specifically, we’re going to specifically talk about live transfer leads from places like Zillow, Trulia, there’s realtor.com. I think one I don’t think they have them but but there’s a number of services you can be purchasing leads from and a lot of brokers purchase leads. So here is one thing that blew my mind. So Zillow brought me out to New York, which is very, very nice of them. And it was nice for me to get out there. And I was talking to them and I said, you know, there are a lot of brokers purchasing leads, what’s the one thing that brokers don’t realize, and the mistake they made about working internet leads and I you and I are talking about referrals? And so I’m gonna go two different directions just for a quick second because I think this could help somebody listening. So one of the big mistakes so we all know backup just a second when we talk to a prospect, one of the first things a buyer we say is, hey, do you have do you have your pre approval letter have you? You know, that’s really important because we want to gauge how serious they are then that they’ve taken that step. However, and that is a great rule of thumb, except when you’re dealing with live transfer leads. So for example, Zillow, a lot of times what happens is the consumer calls Zillow and says, hey, I’m interested in XYZ property, the way that Zillow passes these leads the person the the say, the phone rep goes, Hey, nope, great. Um, let me pass you through to one of our they qualify them for quick moment to make sure that they’re serious, not working with a broker, and then they go, Hey, let me pass you over. And then people who are purchasing these leads, get this phone call. And whoever answers it gets it in. Anyway, the big mistake that Zillow said that brokers make is they the person starts qualifying once they get connected, they start qualifying this, this potential buyer on the phone, and I said, You cannot do that what you have to do is go great, you want to go see that property? When are you free? And I’ll call you right back to confirm that that’s, you know, that that’s confirmed, and we’ll meet tomorrow or whatever. And I said, Well, you don’t you don’t want to qualify them. And they go, no, no, because realize this person already knows more about the property than you they’ve already done all their research, they just want to go see it. So if you’re purchasing leads, they said your phone call should not take more than 60 seconds. Now you do of course want to qualify them at some point. But they said, look, it’s the equivalent of getting into an Uber, you already know where you want to go. And the person going, hey, you know, so what’s going on? What are you up to? It’s like, just drive me to where I want to go. So if you are purchasing leads, yes, you have to qualify, but do not do it until you get to the meeting. And that is counterintuitive. And it goes against a lot of traditional, you know, thought and again, if you’re not working internet leads, this does not apply, but it’s something to consider as you can always find out. And the other thing too is the Zillow rep said to me, would you talk about your finances with a perfect stranger? You didn’t know this is? You know, I don’t know, I probably wouldn’t. So anyway, just but definitely find out if they’re approved at some point, just maybe not on that first phone call if you’re working internet leads.

Joel Schaub 22:10
That’s why this podcast is so helpful. Like that is a complete 180 from the way we work. It adds value because it’s really true, especially with today’s consumer, they don’t they think they already know more than the person they’re talking to anyway.

D.J. Paris 22:24
And they might they might actually no more.

Joel Schaub 22:27
Okay, that’s bad. I hope that helps some of the agents out there.

D.J. Paris 22:29
Well, you know, Joel is so gracious with his time we I’ve taken up too much of his time already. So we are going to, to conclude this. This episode we’re going to come on, but I want to say to the listeners and we Joe wants to answer your question. So please send your questions in. There’s a number of ways you can do that. Obviously, first of all, if you need a lender or lending partner, and you want to reach out to Joel joel@rate.com. Joel, what’s your phone? Do you mind sharing your phone number as well?

Joel Schaub 22:59
No, it’s not a problem. You guys in 2019. If you guys actually are looking to get a mortgage professional that would answer these calls on Saturday nights and Sunday, and go that extra mile to help the borrowers. You just dial me set up a time to talk, make sure I’m a good fit for you. You’re a good fit for me. And the phone number for my office direct. I love giving it out. It’s on every billboard by the way. That’s true. 773-654-2049

D.J. Paris 23:29
And again, the email is joel@rate.com. And please can see oh one more quick thing for listeners. We are now on Alexa. So if you have an Alexa device, all you have to do is say Alexa please I’m probably going to be setting off people’s Alexis with this. But Alexa, please, please play keeping it real podcast and it will pull up the most recent episode. It’s kind of a key word. I’m a nerd. So I like that stuff. I love it. But anyway, we have lots of new listeners we have just as of yesterday, I saw our stats we just didn’t last week I added another 100 new listeners which is so we’re so grateful. So if you’re listening and you have other brokers, you know that could benefit from listening to someone like Joel and the other wonderful guests we have on the show, please pass this podcast along. Also, you can find us on Facebook keeping it real pod. Our website is also keeping it real pod.com. We’re on iTunes Google Play, hopefully Spotify soon we’re waiting to be approved there. But anyway, this has just been a lot of fun. And it’s our it’s our way of giving back as well. So we hopefully this has been helpful for everyone. And on behalf of Joel and myself. We will see you in a month. Send us your questions for Joel. And remember if you need a lender, just call Joel that’s that’s his slogan and it’s a good one because he actually picks up Thank you Joel and we’ll see everyone on the next episode.

Joel Schaub 24:49
It was my pleasure. Bye everyone.

Welcome to the January edition of Monday Market Minute with Carrie McCormick!

In this episode Carrie looks back on 2018 and provides insight on how real estate brokers (as well as buyers and sellers) should be thinking about 2019. Listen to hear why Carrie is optimistic and learn some tips about what to tell sellers during the winter months. I provide a marketing tip on how to add more rentals to your business during slower sales cycles.

Carrie can be reached at carrie@atproperties.com or by phone at 312.961.4612.

Carrie McCormick D.J. Paris Monday Market Minute
Carrie McCormick Logo

Transcript

D.J. Paris 0:14
Hello, and welcome to the second episode of 2019. But this is our first episode of the Monday market minute, of course, you’re listening to keeping it real. We this is our monthly series with Carrie McCormick from App properties, who is nice and generous enough to come on once a month to tell our listening audience what is going on in the Chicago market. Before we get to Carrie, I want to brag for Carrie. Because as of the end, and I have not asked her for this, she probably would not have allowed me to do it. So I’m going to do it. But until before she tells tells me I can’t she This is a big deal. Carrie was ranked the 14th highest producing Realtor in Chicago for all of 2018. And that is out of 40,000 Realtors. So we are Carrie is an unbelievable producer, as I just mentioned. And we’re so grateful to have her on the show. So happy. Happy New Year. And thanks for coming. Well, thank

Carrie McCormick 1:15
you and Happy New Year to you. And thank you for all that you do. Yeah, this year is really, you know, I’m really optimistic. And I’m looking forward to 2019. But I first want to talk about, you know, everyone’s been asking me, of course, you know, just kind of recapping 2018 and talking about 2019. But I would say that the economy remains optimistic. But it’s recalibrating. So things are starting to change a little bit. I think we’re going to see moderate growth this year. And as I’ve been reading a lot of articles, as many people do, I have been reading contrasting views on home prices, whether they’re going to you know how much they’re going to increase in also, depending on mortgage mortgage rates. So two of the ones that I read, one is realtor.com. Their 2019 forecast is projecting a 2.2% growth this year. And then Freddie Mac is projecting kind of double that rate at 4.3%. So you can see how there’s conflicting information. So it’s, you know, who’s right or who’s wrong. But, again, reading into some of the articles that I’ve gone through, it looks like that all signs are pointing to higher inventory this year, both from new build activity, as well as new homeowners entering the market as sellers. So there still is a desire to own a home, especially with our young Gen Z and millennials. But it’s it’s a little bit more challenging for them as we know, interest rates have gone up. So you know, it’s a little bit more difficult and the affordability factor of them buying a home. And also the wealth by equity generation that a home brings. So in the past, for those old timers like me, you know, we would invest in a home and we could flip it and we made money and it’s just the times have changed. So that gap has definitely decreased. Going back in 2018, for me, the second half of 2018 was slow. So really the whole second quarter of 2018 was slow. I was very busy. We did a lot of showings a lot of buyers, you know, we had we worked really hard of trying to get buyers to pull the trigger. But there was really no sense of urgency in the decisions. They were kind of waiting to see what would happen with the market waiting to see what would happen with interest rates. So we did a ton of showings and a lot of hard work of getting these buyers to push forward. So again, it was busy in that sense, but it was slow just the overall production I would say of getting things sold. This first two weeks of January have been extremely busy for me whether it’s listing appointments, showings on my listings or buyers that are asking me to go out to look this weekend. I am booked from 8am to 8pm both Saturday and Sunday. I’ve got it’s just it’s insane and I’m happy I’m bent I’m ecstatic to get people out there and it’s you know, we’re still in January.

D.J. Paris 4:22
Yeah, that’s that’s an amazing start to the year and amazing end to last year even though it of course was slower. You still obviously did incredibly well. When it comes to your sellers. Do you have any tips for people looking to sell their homes you know, what can sellers do right now to get their homes ready?

Carrie McCormick 4:41
Sure. I’ve got some great tips and they’re they’re pretty basic, but it’s a good reminder for everyone. My number one tip and people just kind of look past this is painting. Really painting I’ve read numerous articles on this, the the amount of return on it as 109% on your investment, but you could eat You can benefit more from it if your colors are unusual. I always say that colors. They’re very personal in your home, whether you like blues or reds or greens or you know, whatever your style is, but the general public, you need to appeal to the masses. So you definitely need to go and neutralize your home. But even if it is neutral, a fresh coat of paint just makes it feel cleaner and better. So the colors are grayish, you know, the grays are going out and beiges are coming in. But I would go somewhere in the middle, something extremely neutral. So paint is my number one tip for people, kitchens, everyone wants a nice kitchen. So investing in your kitchen does make a lot of sense. 80% of homeowners say that the kitchens their favorite room. So when the kitchen is updated, buyers are more forgiving on other outdated areas. So I’m finding that my clients are more likely to tolerate an outdated bathroom if they have an updated kitchen. So if you’re going to spend money on something definitely go the kitchen route because you’re definitely going to see a return on that.

D.J. Paris 6:07
Yeah, probably nobody wants to look at a kitchen go oh, I now I get to remodel that right a buyer might want my probably is more willing to remodel a bathroom for versus a kitchen I’m guessing

Carrie McCormick 6:21
for sure, definitely. But with the bathrooms Don’t forget about him if you’re not going to do a remodel, but just make sure you regrout or replace the caulk and just make it look clean and fresh. And lastly, I would say your exterior and your curb appeal. I know it’s not the best time of the year but just make sure that the the old debris is picked up you know anything that has fallen in the yard. Just get it cleaned up as much as you can. And of course once this weather breaks, that you know get into the mulching and the planting but you know at this point just don’t don’t leave it arrive make sure it’s it still looks presentable, get a new doormat, because your curb appeal means a lot.

D.J. Paris 7:01
Yeah, first impressions are everything. And you know, those are the easy things to fix to

Carrie McCormick 7:06
like cars or the easy things. Yeah.

D.J. Paris 7:10
We should also I want to pause for a second because I forgot to mention this at the beginning that everybody should be following Carrie on Instagram for really the sole reason that I’ve yet to see a another Realtors Instagram who does it quite as well as Carrie, if you don’t believe me, please check her out. And it’s a great masterclass on how to have a business Instagram account. That really is impressive, which is Carrie McCormick real estate. So just go on Instagram. So yeah, it’s it’s awesome. And you do it all yourself, which is even more impressive.

Carrie McCormick 7:43
I do it all myself. And that’s a great segue into this business that I met. I actually met her through a gal that works with me and through Instagram. It’s a small Bucktown business it’s called Mitchell black. They specialize in custom wall art, wall coverings, wallpapers, decorative flooring, I went into their store which is at 1922 North Damon. Just to get a sense of you know what they do. And you know, as clients are getting their houses ready, if there’s a wall that they want to spruce up or do something different. This business has the coolest ideas, you can go online and look at them. It’s Mitchell black or on Instagram. But if you’re in the area in Bucktown, I want to give a shout out to them. It’s they have the coolest stuff. It’s at 1922 North Damon, it’s called Mitchell black stop in and see him Yeah, that’s

D.J. Paris 8:36
that’s great. And I that is a good good thing because we I get questions all the time from listeners who are asking, like who does carry use for various vendors, various services. So this is a great thing we can start doing is promoting businesses that that you’re a huge fan of, because our our lists are listeners who are either brokers or buyers and sellers could obviously use these services. So I’ll post a link to to their website in the description as well. So thanks. Oh, thanks for that. So I wanted for my market minute. And I’ll keep this short because I’ve actually, I take that back. I’ve not given this tip before but I did not come up with this tip. So in our previous episode that was just released. Ryan de April actually gave this tip. So really this this credit goes to him. But it’s such a great tip. I want to reiterate it. So one of the when I spoke with Ryan, one of the things he coaches for his brokers as he says you’re supposed to make before you start work, make 10 calls to your sphere of influence. And then I said, Okay, well that’s in theory, that’s a great idea. What do you say? And he goes, Well, he’s a very humbled nice person. And he goes, I would never ask for business because he’s not comfortable doing that. So I said, Okay, so what do you why do you call these people? What do you say, would you get him on the phone? He said, Well, this is the he goes, that’s actually the easy part. He said, All you have to do to get a reason to give these people a call to let them know that you’re Thinking of them is to go on social media, if they’re on social media, in particular, Facebook, LinkedIn, Instagram, and see what’s going on in their lives. And then you will find some event that has happened. Maybe it’s a major life event, maybe it’s a minor event. But something that has happened, maybe they just went on vacation, and you can call them and say, Hey, I was just on Facebook. And I noticed that you, you know, weren’t so and so and so place. Just thought that was awesome. And I was just thinking about you, I hope you had a good vacation. See you later. And he said, By the way, he goes, You don’t have to call, you could send them a little Facebook instant message. He goes, it doesn’t have to be a call, but anything like that, you know, you use these social media platforms to do a little research on what’s going on with your clients or your sphere of influence. And I thought that is so smart, and wouldn’t have occurred to me. So I wanted to reiterate it for the audience.

Carrie McCormick 10:51
I love that. And it is it’s it’s great social media has so many great attributes to it. And that’s one of them is just keeping in touch with people finding out what’s going on in their life. I love it.

D.J. Paris 11:00
Cool. Well, I think that’ll do it for our first 2019 Monday market minute with Carrie McCormack. I’m sure Carrie is going to have an even more amazing year as she did last year. But we are so grateful because again, this is somebody that does not have time to do this, as you heard for her weekend coming up, but she still makes time. So we’re so grateful for her, please follow her on Instagram, which is Carrie McCormack real estate, we’ll post it, we’ll put a link to that in the description as well. And if you’re in need of a realtor, she carries the person she’s been doing it 20 years. She’s amazing, very successful, and she’ll take unbelievable care of you. Or if you can always reach out to her too if you’re a broker. So with any questions, and you can also reach us with questions. So if you would like to hear Kerry’s take on anything related to the Chicago real estate market, send us an email or visit our website at keeping it real pod.com Or visit us on Facebook keeping it real pod, send us a question and Carrie will answer it. So thank you so much, Carrie.

Carrie McCormick 12:02
Thank you look forward to that too.

D.J. Paris 12:04
All right. On behalf of Carrie we say goodbye and we’ll see you in a month.

For our first episode for 2019, we’re excited to announce that Ryan D’Aprile will be hosting a monthly series titled Coaching Moments!

Ryan D’Aprile personally coaches over 300 brokers at his real estate firm, D’Aprile Properties. Each month Ryan generously shares his exact systems, strategies and methods that have produced many top 1% real estate brokers. His passion is coaching, and we couldn’t be more honored to have him as a partner.

In this episode Ryan talks about best practices for starting off each workday. He explains in detail his pre-work routine which includes gratitude, meditation and journaling. Then, he pivots into his morning work routine discussing contacting your sphere of influence and tips on how to find discussion points. Lastly, I provide a suggestion about how to hire an accountability partner for $10 a week!

Ryan D’Aprile can be reached at 312.492.7900 and execassistant@daprileproperties.com.

Ryan D'Aprile
daprile properties logo

Transcript

D.J. Paris 0:14
Hello and welcome to another episode of Keeping it real the only podcast made by Chicago real estate brokers for Chicago real estate brokers. My name is DJ Paris. I am the host. And we are really excited because today, by the way, welcome everyone to 2019. This is our first episode of the year. And we’re starting off with a brand new series on the call on the podcast again, once again. He did such a great job the first time we begged and pleaded him to come on more often. And so we have a new new episode, a regular episode every month we’re going to be doing this and I should tell you what it is and who is going to be doing this. So he is patiently waiting for me to finish so he can start talking. His name is Ryan de Abril. You probably know him dia pro properties, huge real estate company here in Chicago large brokerage firm. And over the years, as Ryan has built it up, they have tons of locations, great reputation, and Ryan’s favorite thing to do was actually coaching. So we went reached out to him and said, Hey, how would you like to do a monthly series on our show, similar to Carrie McCormack? Joel Schaub, but this one specifically around coaching. So Ryan, welcome. Very welcome. And thank you for offering to do this

Ryan D’Aprile 1:30
on a DJ. Thanks. Thanks for having me. And happy new year to you.

D.J. Paris 1:33
Happy New Year to you. And before you get started, I want to promote your your business. So do you have real properties, obviously great reputation. They are they were and are one of the top workplaces as the Chicago Tribune has awarded them. And so you guys should? Yeah, it was it’s it is it’s super cool. And so if you’re not familiar, and you want to learn more about what they offer, if you’re a broker looking to switch firms, give them give them a chance, look them up. And you know, Ryan goes around to all all the different offices teaching brokers as well. But I did do real properties.com. And we’ll post a link to it as well. But Ryan, thanks for coming on the show. And let us how do you want to get started with this series? Sure. So

Ryan D’Aprile 2:15
we chatted about it coaching moments. And I figured since this is a series we’re doing, why don’t we start in the beginning. And instead of jumping right into coaching and technical things and tactics that people need to do, I thought, why don’t we just start from the beginning? And why don’t we like literally start in the beginning of the day and talk about in this session, a morning routine, and a good practice that we all should incorporate into our daily life, it’s going to help us not only professionally, but personally, is what a good morning routine is. So that’s what I figured DJ, we chat with a little bit here. About what our morning routine isn’t what my morning routine looks like. Does that sound good? With you?

D.J. Paris 3:01
Yes, it’s perfect. So.

Ryan D’Aprile 3:03
So I think, and again, what I want to also point out to everybody is that you hear advice from individuals, and you think like they have it together and they they practice every single day perfectly. I would love to see I do that. But I want everybody to understand that I fall off my morning routine here and there. And you just have to have permission and understand it’s okay to not be so disciplined in doing this. And when you find yourself off course just jump back on and get back into it. Does that make sense?

D.J. Paris 3:33
Yeah, and I always love to say balance is a myth. So don’t Don’t, don’t shoot for perfection, just shoot for being able to, to re read school yourself and get as close to the balance as possible. Realize you’ll always there will always be something you’re missing. It’s okay. And just, you know, reset to center.

Ryan D’Aprile 3:53
Yeah, I found myself you know, in these past years speaking in public and to individuals on on these topics and, and then having the realization that they they actually think that I’m perfect and I have these things figured out which sure is not the case at all. So I just feel like I have to share that with everybody. Like, you know, I just came back from a family vacation. We were in Punta Cana for the week, the girls were off and we went out of town and you know, my morning routine went away and I was on social media and I saw one of our agents sharing a story about her morning routine, and she inspired me to get back onto the horse. So again, my I just don’t want to get too carried away with this. My emphasis is I’m going to go over morning routine with you. And I want everybody just you know, stick their toes in the water you know, give it a shot and it’s a practice and it gets better with time. So So myself is I like to get up early. I wouldn’t qualify myself as a morning person. I make myself a morning person I feel my energy is at its highest in the morning. I am exhausted when I get up and sometimes it’s hard to roll out of and get it going. But once I kind of get moving, I find my vibrational energy is at its highest moment early in the morning. So I usually like to get up around between five and 530 in the morning. Another reason I do that is I’m a father of three girls. And my house can be total chaos after seven o’clock in the morning. Sure, you know. And so now they’re getting the point where it’s battles for the bathrooms and everything else. So it’s a warzone. So between five and seven in the morning is nice two hours, where I can organize my day and get myself centered. So I wake up around five, between five and 530. And the first thing I like to do is I have a space in my home. And actually have two different spaces depending on the season one it is one is my bedroom. And the other one is down in our in our living area. In the wintertime, I like to go down in the living area, and I and I light a fire and sometimes I light a candle. And it’s total. It’s it’s pretty dark, and it’s silent. And it’s meant to be for myself. And I meditate, I take about 10 to 15 minutes to meditate. And I don’t know if DJ, if you’ve ever meditated it’s it’s not the easiest practice in the beginning. It’s incredibly difficult. It is. And there is an app that I use called the daily calm. Have you ever heard of it? No, that’s phenomenal. And I can’t remember the lady’s name, but she’ll guide you. So they have seven days of managing stress, seven days of gratitude, seven days of, for me, this is a this is a strong one for me, seven days of calming anxiety, I’m a personality and very hard driven person, which is a blessing. But it’s also a curse, because a lot of times that’s coupled with a high anxiety. And so I find these practices incredibly important for me to center myself in the day. And the daily calm is a wonderful app, I encourage anybody to take a look at it, I subscribe to it. Because then I have so many more, but they have a bunch of free seven day meditations. And it’s, it’s 10 to 12 minutes, it’s guided meditation. And again, you could pick the topic that you want to focus on for that week. And oh, my gosh, I cannot tell you how centered I am after I do it. And again, I’m an individual with a lot on my plate. And we all have a lot on our plates. And so if you gave yourself 10 to 12 minutes to meditate, I think it will put you in the right right mode for the day. So then the next thing I like to do is I like to do a daily reading. And I’ll won’t, it won’t be like a reading where I’m sitting down and reading a novel and I’ll spend a good half hour or an hour, I’ll just focus on two to three pages of a book that I’m reading. Now when I do that, I keep a notebook by my side. And this kind of going back to the meditating away meditating is so hard, you know, we have 30 to 50,000 thoughts a day that go right through our mind. It’s insane. So I have created the practice of keeping a notebook on my side so that when that thought comes in my head now when I’m meditating, I just observe the thought when I’m meditating. But when I’m reading, in my daily routine, I just do two three pages of the book that I’m reading. I’m reading a great book right now. By the way, have you ever heard of the self esteem prophecy?

D.J. Paris 8:16
Oh, sure. Yeah, Redfield?

Ryan D’Aprile 8:19
Yeah, so you’ve read it? Sure. Oh, I have. I’m reading it right now. It’s unbelievable. Yeah. Anyways, just loving that book anyway. So I’ll read to the three pages that in the morning. That’s what the book I’m reading right now. But as I’m reading, sometimes thoughts will come in my head. And so what I’ll do is I’ll just jot down the thought, and then I’ll get back to where I am. And what I mean by thought is something that I have to do that day. Does that make sense? Yes. So that I can be productive because I find between five and seven o’clock in the morning, I’m incredibly productive to I’m so productive, doing a few things and a few hours versus a whole bunch of things crossed an eight hour day. So I’ll write down and jot those notes.

D.J. Paris 9:00
Yeah, and just to jump in for a quick second, I could not agree more that whenever a to do comes into your head anytime day or night, but certainly in the morning, write it down, get it out of your head, immediately get it on paper or some system to where you’re not having to remember to think about it.

Ryan D’Aprile 9:18
Yeah, and it’s and you know what that is, that’s a habit, you know, and it takes time to carry to you know, to carry around a notepad like I mean, it takes time to create a habit, but if you can just try to form the habit, it’ll take time to always have a notepad with you, especially in your morning routine. It will make you so much more productive and healthy with because you’re gonna forget that thought because again, between 30 to 50,000 thoughts a day How can you how can you remember all these things going through? So um, and then I go through my gratitudes you know, this is have you ever gone to have you ever done ninja training?

D.J. Paris 9:56
I know of it. I have not done that. I’ve heard some amazing

Ryan D’Aprile 9:59
it’s Fantastic and you know, I’ve lived this lifestyle for some time I’ve gotten my first installation, we they’ve come to us a couple of times, I’ve gotten my first installation, and they helped me organize the morning routine. And I just, I love it. And so I do my three gratitudes. And I look back at the day before, and I write down three things that I’m grateful for. Now, this is incredibly important. And to some people, this might sound hokey, and for those people, that sounds hokey, I just beg of you to look at it in a different light, you have to understand that your attitude and mindset is 80 to 90% of success, agree or failure, depending on what it is. And so there is a lot to be happy about, there’s a lot to be unhappy about. And you have to pick one side, and you can’t, you know, like have your your feet on both sides of the aisle, you really have got to focus on what it is that you’re happy with. Because your belief system, your internal belief system has everything to do with the action that you take. And the action, obviously, is the results. And then the results reinforce your positive belief system or your negative belief system. And I think having the practice of writing down three things that you’re grateful for. And I tend to think about the day before, or the three things that I’m grateful for the happening for that day, really tend to put me in the right mood. Now I’ll tell you another reason why this is incredibly important. And this goes to the book that I’m reading right now, which I love so much because it’s so much my belief system, it’s it’s our energy. It’s an it’s our main form of communication is our vibrational energy. Of course, we have our language. But DJ, I don’t know about you, but have you ever walked in a room? You could feel somebody’s energy?

D.J. Paris 11:37
Oh, sure. They say the body language could be up to 90% of all communication. I mean, it’s yes.

Ryan D’Aprile 11:44
And in theory, I mean, we’re in sales, I tell all my agents that I coach and train, I’m in relationship building, that’s where I primarily focus on. I don’t focus on sales, I focus on relationship building, but we are in a function where people buy from us. And so you have to have a good vibrational energy, good body language when you are amongst people. Now I work with a huge staff, I have coworkers and everything else. So it’s really important that I walk in, and I have got a good vibrational energy that people could feel, or I could ruin the day for a lot of individuals. So it’s something to take into consideration. It’s a practice that I started a long time ago, and has just helped me I also journal. And now this is you can journal in so many different ways on what you want to do, I tend to write about my family, and keep a just a little brief history is something that my wife and I did, or one of my daughters are all through my daughters, I might be writing about what they’re doing at the time if one of them was awake or whatnot. And it’s something for me to go back and look through. And again, this might be to anybody who’s listening out there is like, what does this have to do with, with, with real estate sales, it has everything to do with real estate sales. Because if you’re not healthy, mentally and personally, and you do not have a good center, everything else is not going to fall into place for you. So you really have got to work on yourself, before you can work on all the other things. And so those are the three things that I three to four things that I do my morning routine. Then I move into my last part, which is my daily lists, and my daily lists, then focusing we’ll talk about this DJ in the in the upcoming podcasts. But my daily lists then will flow into my systems. And my system is what I use and our agents use called our dashboard and our snapshot. And this is a way where I think a lot of people in sales, it’s somewhat intangible, and they’ve got the running around and they’re busy, but they don’t really have a good form of tracking. And I think in the morning, after my morning routine is done, the last thing of my morning routine, I should say is create my daily list. And so in my dashboard, we have several different tabs. One is your network tab. The other one is your prospects tab. Another one is your active tab. And then another one is your well there’s another one called pending, but I skipped over that one during this daily tat list moment. And I go to my previous year close tab, or current year, I mean previous year because it’s January of 1919. So My Network tab, I create a pick 10. So I pick 10 individuals in my network that I’m going to make personal contact with that day. Now I’m going to just transition a little bit over into the coaching aspect of it which I’ll talk to you in in our next episode. When I reach out and connect with these individuals, I’m going to focus on them and what’s relevant in their lives. I’m not going to call them and ask them for a referral or have any line about if you know anybody looking to buy or sell. Think of me it’s It’s a pure relationship touch, but I’m going to pick 10 people, I have to be systematic about it so that I make sure they touch my network because our network is our net worth. And it’s very important to be in tune in line with your network. So I pick time people, then the next thing is, I go through and I look at my prospects, and depends on how many prospects I have. And the date, the last contact, which I notate, and I figure out, if there’s any of the prospects, I need to follow up with that week, I’ll pick those and I’ll write them that notepad DJ that I have to the right of me, like, these are the individuals I’ll connect with. And then I’ll go to the close tab now. So it’s January 2019. Okay, and so I’ll be looking at 2018. And all my close transactions, say I had 24, closed 36 Closed transactions or whatnot, I want to have personal contact at a minimum of nine times, with every closed transactions that I have in the previous year. It’s the rule is 16% of our network buys or sells a home every single year. But every single person in our network knows at least four people that are thinking about buying or selling. But the people who know and who are aware of the four people that are buying or selling are your past clients or people who bought in the past four months, because they’re talking about it, they’re moving, they’re talking to their family about it, and therefore other people are talking to them about it. And so this is the people that you want to be really in the flow with your past clients, a lot of

real estate agents, unfortunately, in other professions, after they make the sale, they move on. And it’s really the past sale that you want to nurture, make sure that they’re happy that everything that they wanted was there, and if there’s any difficulties that you are there for them. So I make sure I go through that tab and I have, we have selected dates for how many times you can contact these people and see if there are any of them or in that day or that week, they go on my list as a must to call that day. And that is that is how my morning starts. And that’s my morning routine. And I figured that’s what we focus on here. And I hope that was beneficial to you and listeners, it was a short moment with any questions DJ on that.

D.J. Paris 17:09
The first question I have, and I think I know the answer, but I want to get get your thoughts on it is, you know, hey, you know, you’re making these calls every day to your existing network. And you said, Hey, what, here’s what I’m not doing. I’m not going saying, Hey, I’m never too busy for your referrals, you know, anyone else who is buying or selling a home or detail? You’re calling them with a more personal touch? You know, and I think I know the answer of but a lot of a lot of our listeners probably haven’t built up those relationships to have a reason to call other than maybe ask for business, which I’m on the same page as you I don’t think that’s a good idea. So what do you talk about in these calls?

Ryan D’Aprile 17:46
Okay. So it’s so this is? That’s a great question. And there’s different degrees of individuals that, especially for people that are not used to relationship building like this, that you have to look at. So we have a practice of first social media, people think social media is a marketing tool. And I think I might have mentioned this in the previous pack podcast, I look at social media as r&d, research and develop relationships. Yes, great. Love, love. I’ll grab one individual, and I’ll go through the line, right. So I’ll pick, you know, DJ, and now okay, oh,

D.J. Paris 18:23
that’s so smart. I never would think to do that. That is so smart. And I’ll go

Ryan D’Aprile 18:27
through his Facebook feed, and I’ll just see what’s relevant what’s going on with and maybe I’ll look at his Instagram account, I’ll definitely go to his LinkedIn. All right, because I think people’s professionals, as is your profession important to you, DJ? For sure. Correct, right. And so it’s important for us to know, what our clients do, and I’m not going to bring it up in the conversation, but I’m going to know what they do. And I’m telling you, if you know what they do, and when I say know what they do, I mean, just where they work, what’s their function? You know, are they in sales? Are the human resources are in the operations and the financing? What’s the title of the Vice President Director just show a genuine interest in people? It just research and again, I wouldn’t bring it up in the conversation. But these are just things I want to know. And when you get into a conversation, you’ll have all this information at your disposal. Now, when I said earlier about different degrees, is somebody says, Well, I haven’t talked to that person in 10 years. I understand and that and I get making a phone call to them might be awkward. So let’s take baby steps at this. So we have DJ, you should contact everybody and network at least four times a year, once a quarter, right? So we look at this quarterly. So we say this is the first contact I’m going to make for you whatever time of the year is my first contact, I’m going to commit to make contact with you on a quarterly basis. We’ll talk about the marketing part of it after that, but we’re just talking about making personal contact. You can start with a Facebook or Instagram direct message. Okay, sure. Doesn’t have to be a phone call. It will count as a count tact. So I might say, hey, DJ just saw you got a new lammeter. So cute. I had one of those growing up. It’s been forever, man How you been hope all as well, you’re somebody I haven’t talked to in 10 years. I don’t think that’s strange. They send me know and

D.J. Paris 20:13
you can even if you’re doing it over the phone or or on an instant message through Facebook or LinkedIn, wherever you can always say, Hey, I have done a really crappy job of staying in touch. And I wanted and I wanted to do a better job or you could even own that too. You know, if you have done a crappy job of staying in touch, and that’s okay. I mean, it’s it’s the truth and acknowledging that.

Ryan D’Aprile 20:33
Well, you know, the thing is, is to I don’t want them in a DJ, when it comes to this from a different level as to it’s like, sure, you know, we all do a crappy job. So don’t, of course, to have to self deprecate, I guess even though it’s not self deprecating, but you know what I’m saying? Sure, say, Hey, I just saw a dog. It’s been forever You’re right. You’re right, then, you know, I, you know, such a such we’d love to hear from you hope all as well, and forget about it, and they send the message and I don’t think anything more about it. Now. People ask, well, what if they never respond, they never respond. It has nothing to do with you. It’s just life is so chaotic for everybody. I get text messages from friends. I get Facebook messages from friends and I haven’t responded shame on me. But I had a daughter sick at the time I had something my life blown up a business deal falling apart, and then you forgot the message even came so don’t look too much into it. Just Just do it. Don’t think just go through the process. Agree. Mel Robbins wrote a great book, The Five second rule that really would help people get over that hump of thinking too much. Have you ever read that book? The five? No, no,

D.J. Paris 21:38
I’m writing it down though. Fantastic. Great. So

Ryan D’Aprile 21:41
anyways, so so so that’s a different, you know, so that’s somebody I’ve been talking to 10 years. I’ll start with that. Okay, and then maybe the next quarter, I hit him with a text message, or even a handwritten note. Now, if it’s somebody that again, I haven’t talked to in a year or it’s been less frequently again, I look at the social media sites, I see what’s relevant. Then give them a phone call. Now, here’s what’s going on. What do you think’s gonna happen when you call somebody? DJ? AB eight out of 10 times,

D.J. Paris 22:11
you probably get voicemail. They’re gonna Yeah, exactly.

Ryan D’Aprile 22:14
And so I’m gonna say, hey, DJ, it’s Randy. April, hope all’s well, listen, no need to call me back. I was just thinking about you. And, and Sally, and I just wanted to say hello, hope you guys are all well, you know, and I just stumbled there. But I’d be better with sales live on the phone, right? Sure. But just think about you, man, hope all as well and love to catch up with you soon, someday talk to you later, and hang up. And the person is probably not going to call back, you left the voicemail. You told me just give me a call. See how you’re doing. Make a connection. And you’re on here today. So also, everybody’s so afraid of making contact with these individuals. You’re just calling them to see how they’re doing. Don’t think about you’re selling real estate? Because you’re not right now. Right? You’re developing relationships with you know, yeah,

D.J. Paris 22:58
these aren’t your prospects. These are your this is your your network. Right,

Ryan D’Aprile 23:02
exactly. Right. Yeah. So that’s how I go about that.

D.J. Paris 23:06
Yeah, I absolutely love and agree with all of that. I do have one suggestion I wanted to add to everything Ryan said. So really, what we’re talking about Ryan’s talked about throughout this episode is really building habits. And he even mentioned specifically building habits and he has his, his sort of pre work habits, and then his work habits, at least in the morning. And I will add something that I have done, I can’t take credit for inventing this idea. I learned it from a very, very great thinker named Marshall Goldsmith. But what this, he suggested, and he might be the world’s most foremost expert on leadership. But what he said is, or what he recommended is find somebody that you can, that that can ask you about your habits on a regular basis, preferably in the morning, or it could be any time and check in with you to see how you did on the previous day. So for the last two years, I pay a woman and I’m sort of embarrassed to say how little it is all she wants is like $10 a week. She calls me every morning at 730 and there’s a list of habits that I am trying to cultivate that are hard for me things like did I make my bed it’s a silly one but it’s important to me I don’t make my bed another one for a while was flossing Another one was Did I call somebody who I care about you know, friends family, that kind of thing and tell them I was thinking about them? Well, another one was that I checked my finances and I look at I reconcile all my you know, different charges etc. So anyway, I have about a list of 20 of these. One of them’s did you take the dog for a walk, write things that are good ideas that I struggled to do. And she calls me every morning at 730 or names all the time. And for 90 seconds. That’s as long as it takes. She asks me did you do X? I say yes or no, she doesn’t respond. She doesn’t have an opinion. She doesn’t care. She literally just records a little spreadsheet on Google Docs, or Google Sheets. And that’s it. We hang up and in all that does that she has no judgment. Whether and I’ve never had a perfect day in two years. Never once have I gotten yes is on all of my domains, but it keeps it in the front of my mind. I know every morning she’s going to call me. And every morning I’m going to say, Oh, I did this. No, I didn’t do that. And it just keeps things in the front of my mind. So if you can find an accountability partner, you don’t need to pay someone 10 bucks a week, although I think that’s money well spent. But you can find somebody, you know, Brian Buffini has a great story. He built his business with an accountability partner, Joe Nico. And they built a whole business together as a result of it, but they weren’t. Yeah, that’s right. And they were accountability partner. So you can have accountability partners for habits, because habits are everything. Habits are everything.

Ryan D’Aprile 25:34
Yeah. Yeah, absolutely. And one of the things that we do here is, it’s not an A daily, it’s daily, we tell everybody come into the office and work on your business. Sure, we do monthly workshops. However, there are about three to four hours, and it’s based on the dashboard. And we go through all these activities that I’m talking about right here and not the morning routine. But what comes after the morning routine. And then we have a private Facebook group that we message, and we discuss about it throughout the month. And then as the time fades, right? And then things fade, we here we are, again, it’s another time for a monthly workshop where people come in. And again, it’s a three to four hour workshop, where we’re actually sending out our annual real estate reports, we’re doing our contacts with their network, we’re following up with prospects and all those types of activities. Accountability is everything to success in this, but yeah,

D.J. Paris 26:25
don’t think that you you couldn’t benefit from it. Even if you are somebody that typically doesn’t need someone else to, to to check in with them. It helps it helps every single person on the planet, because nobody’s perfect. And the hard things that are hard for you to do, are probably always going to be hard to do, which is why accountability partners really make it a little easier.

Ryan D’Aprile 26:45
I saw something and I don’t know who it was, it might have been Darren Hardy, he did a podcast or something of that sort. And he talked about seminars, and there are so many different seminars that and you can go to and we all go to them, right? Sure. Occasionally here and there. Ninja was one of those, right, and it’s a four day seminar. And it’s great. But the statistics show and I’m off by percentages, but like, within one week, 47% of the data is lost and with for sure you’ve lost 80% of the data. And so it’s wonderful to go to them, but then you have to back it up with the daily activities and monthly workshops and whatnot to keep it relevant. And yes, we’re not going to get it all done all the time. But if you you know, you do two to two out of the four activities, three out of the four activities. You’re gonna be

D.J. Paris 27:31
lightyears ahead. Yeah, that’s a win. So So if you’re somebody that struggles with with their own accountability, you know, like, find, you know, I found somebody from the Philippines for $10 a week, and she calls me or find somebody local, or find somebody in your office or find a mentor, somebody that you can check in with on a regular basis. And there’s no shame associated with not doing things because we all don’t do everything. I mean, that’s that’s human nature, we’re not perfect. But it helps to have somebody you know, to be able to have those conversations with him, maybe somebody you can help hold accountable as well. All right. Well, well, Ryan, thank you, I think this is a great place for us to pause. We’re going to be doing these coaching moments every single month. If you are interested in either working if you’re if you happen to be a buyer or seller, you’re not a broker, and you’re interested in in looking for a good realtor, you know, anyone at April properties, there’s hundreds of brokers, you can visit the April properties.com. Also, if you are more likely a broker and you’re interested in learning what you know, being on a team or rather being at a company that offers this sort of coaching and support and very few do, but Ryan’s Ryan’s company does.

Ryan D’Aprile 28:43
Our workshops are open to agents from outside if they want to come in observe and get some help, you know, there’s no no pressure either just want to come in and and see what it looks like for a couple hours to get an idea to learn. No pressure, just come on. And just tell us where you’re coming from and just observe. Yeah, and

D.J. Paris 29:01
easiest way to get in touch with Ryan or anyone on his team. They’re extremely extraordinarily responsive. Go to D APR properties.com. We’ll have a link in the description as well. And you know, whether you’re interested in working for Ryan or just even attending one of his trainings as coaching sessions, Ryan is literally so passionate about this. This is where he focuses the majority of his time and energy is traveling around to his different offices doing this, this is what he he loves more than anything. So we’re so grateful. He’s also now making time for our for our show. So we want to make sure that if anyone’s listening and you want to learn more, you know, reach out to Ryan or his team and they’ll they’ll tell you all about what they offer. So Ryan, thanks for having me. I

Ryan D’Aprile 29:38
greatly appreciate Oh, this

D.J. Paris 29:40
is so much fun fun for us. And we’re so we’re so grateful to have you. So again, on behalf of Ryan, we say thank you for listening, we’re going to make this a great 2019 We’re gonna have Ryan on the show every month, along with some other people that we we talked to and also our regular interviews. So stay tuned. And thanks again for listening and we’ll see everyone next month. Thank Throw Thank you